Teck Resources Ltd $TECK Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Teck Resources Ltd by 2.2%, owning 3,015,149 shares valued at approximately $109.8 million.
• Analysts have issued mixed ratings for Teck Resources, with a consensus rating of "Moderate Buy" and an average target price of $57.88.
• Teck Resources announced an increased quarterly dividend of $0.0918 per share, representing a yield of 1.1%, reflecting the company's commitment to returning value to shareholders.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 2.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,015,149 shares of the basic materials company's stock after buying an additional 66,225 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.61% of Teck Resources worth $109,817,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TECK. Northern Trust Corp boosted its holdings in shares of Teck Resources by 55.9% in the 4th quarter. Northern Trust Corp now owns 391,370 shares of the basic materials company's stock valued at $15,862,000 after buying an additional 140,404 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Teck Resources by 100.1% in the 4th quarter. BNP Paribas Financial Markets now owns 283,346 shares of the basic materials company's stock valued at $11,484,000 after buying an additional 141,753 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Teck Resources by 20.6% in the 4th quarter. Cetera Investment Advisers now owns 57,793 shares of the basic materials company's stock valued at $2,342,000 after buying an additional 9,887 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in shares of Teck Resources by 18.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 5,882,044 shares of the basic materials company's stock valued at $238,381,000 after buying an additional 932,058 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of Teck Resources by 16.2% in the 4th quarter. Deutsche Bank AG now owns 1,600,483 shares of the basic materials company's stock valued at $64,868,000 after buying an additional 222,918 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company's stock.

Analyst Ratings Changes

TECK has been the subject of a number of analyst reports. Desjardins downgraded shares of Teck Resources from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. restated a "neutral" rating and set a $41.00 price objective (down previously from $46.00) on shares of Teck Resources in a research report on Friday, July 25th. Stifel Canada raised shares of Teck Resources to a "hold" rating in a research note on Tuesday, July 8th. Cibc World Mkts cut shares of Teck Resources from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Finally, CIBC cut shares of Teck Resources from a "sector outperform" rating to a "neutral" rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $57.88.

Teck Resources Price Performance

NYSE TECK traded up $1.54 during trading hours on Friday, reaching $34.31. The company's stock had a trading volume of 5,199,901 shares, compared to its average volume of 3,771,862. The stock has a market cap of $16.48 billion, a PE ratio of 90.29, a PEG ratio of 0.54 and a beta of 0.78. Teck Resources Ltd has a fifty-two week low of $28.32 and a fifty-two week high of $54.13. The company's 50-day moving average is $35.13 and its two-hundred day moving average is $36.50. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.45 and a current ratio of 3.47.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.07. The firm had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $2.25 billion. Teck Resources had a net margin of 2.51% and a return on equity of 3.91%. The firm's revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.79 EPS. Analysts forecast that Teck Resources Ltd will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a $0.0918 dividend. This represents a $0.37 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, September 15th. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio is currently 94.74%.

Teck Resources Company Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.