Natixis Advisors LLC Raises Stock Holdings in Teck Resources Ltd $TECK

Key Points

• Natixis Advisors LLC increased its stake in Teck Resources by 189.6% in Q3 to 648,103 shares, adding 424,341 shares and holding roughly $28.4 million worth of stock.
• Other large moves included Principal Financial raising its position to 16.88 million shares and Norges Bank establishing a new ~$437.7 million stake, with institutional investors now owning about 78.06% of the company.
• Teck reported Q earnings of $0.98 EPS (beating estimates), announced a quarterly dividend of $0.125 (annualized $0.50, ~1.0% yield), and the stock trades near $52.44 with a market cap of about $25.2 billion.

Natixis Advisors LLC boosted its stake in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 189.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 648,103 shares of the basic materials company's stock after purchasing an additional 424,341 shares during the quarter. Natixis Advisors LLC owned about 0.13% of Teck Resources worth $28,445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in Teck Resources by 36.1% during the 3rd quarter. Principal Financial Group Inc. now owns 16,879,229 shares of the basic materials company's stock valued at $740,604,000 after buying an additional 4,474,637 shares in the last quarter. Norges Bank purchased a new stake in Teck Resources in the second quarter valued at about $437,657,000. Northwest & Ethical Investments L.P. boosted its holdings in Teck Resources by 16.1% in the second quarter. Northwest & Ethical Investments L.P. now owns 157,645 shares of the basic materials company's stock worth $6,402,000 after acquiring an additional 21,900 shares in the last quarter. Alps Advisors Inc. boosted its holdings in Teck Resources by 37.3% in the third quarter. Alps Advisors Inc. now owns 166,334 shares of the basic materials company's stock worth $7,300,000 after acquiring an additional 45,194 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of Teck Resources by 6.0% during the second quarter. Swiss National Bank now owns 1,428,679 shares of the basic materials company's stock worth $57,555,000 after acquiring an additional 80,300 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company's stock.

Teck Resources Trading Up 2.9%

Teck Resources stock opened at $52.44 on Wednesday. The stock has a 50-day moving average price of $54.60 and a 200 day moving average price of $46.22. The company has a market capitalization of $25.24 billion, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 3.11 and a beta of 0.77. Teck Resources Ltd has a 52 week low of $28.32 and a 52 week high of $62.41. The company has a quick ratio of 1.91, a current ratio of 2.54 and a debt-to-equity ratio of 0.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings results on Thursday, February 19th. The basic materials company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.39. Teck Resources had a net margin of 12.98% and a return on equity of 5.90%. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the prior year, the company earned $0.45 EPS. Teck Resources's quarterly revenue was up 9.8% on a year-over-year basis. Sell-side analysts anticipate that Teck Resources Ltd will post 1.53 EPS for the current year.

Teck Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, March 13th. Teck Resources's dividend payout ratio is 17.82%.

Analyst Ratings Changes

Several brokerages recently commented on TECK. Veritas raised shares of Teck Resources from a "strong sell" rating to a "strong-buy" rating in a research report on Thursday, January 15th. National Bank Financial downgraded shares of Teck Resources from a "strong-buy" rating to a "hold" rating in a research report on Friday, December 5th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $46.00 target price on shares of Teck Resources in a research report on Wednesday, November 26th. TD Securities reaffirmed a "hold" rating on shares of Teck Resources in a report on Monday, February 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Teck Resources from $43.00 to $51.00 and gave the stock a "neutral" rating in a research note on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $57.00.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company's operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.

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