Teck Resources Limited (NYSE:TECK) Shares Purchased by Nuveen Asset Management LLC

Nuveen Asset Management LLC grew its position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 16.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,449,731 shares of the basic materials company's stock after purchasing an additional 201,097 shares during the quarter. Nuveen Asset Management LLC owned about 0.29% of Teck Resources worth $58,748,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Merewether Investment Management LP grew its holdings in Teck Resources by 78.1% in the fourth quarter. Merewether Investment Management LP now owns 488,476 shares of the basic materials company's stock worth $19,798,000 after purchasing an additional 214,145 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Teck Resources by 2.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,948,924 shares of the basic materials company's stock valued at $119,499,000 after buying an additional 79,396 shares during the last quarter. Hudson Bay Capital Management LP grew its holdings in shares of Teck Resources by 72.7% during the fourth quarter. Hudson Bay Capital Management LP now owns 95,000 shares of the basic materials company's stock valued at $3,850,000 after buying an additional 40,000 shares during the last quarter. Gotham Asset Management LLC grew its holdings in shares of Teck Resources by 656.1% during the fourth quarter. Gotham Asset Management LLC now owns 100,696 shares of the basic materials company's stock valued at $4,081,000 after buying an additional 87,379 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Teck Resources by 16.2% during the fourth 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 during the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Bank of America boosted their price objective on shares of Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a report on Monday, March 10th. BMO Capital Markets assumed coverage on shares of Teck Resources in a report on Wednesday, April 16th. They set an "outperform" rating on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. UBS Group reissued a "neutral" rating on shares of Teck Resources in a report on Tuesday, April 15th. Finally, National Bankshares raised shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a report on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $64.11.

Teck Resources Price Performance

Shares of Teck Resources stock traded up $1.15 during trading hours on Friday, reaching $36.62. The stock had a trading volume of 2,992,306 shares, compared to its average volume of 3,145,832. The stock's 50 day moving average is $35.54 and its 200 day moving average is $40.37. The firm has a market capitalization of $18.04 billion, a PE ratio of 66.58 and a beta of 0.79. Teck Resources Limited has a twelve month low of $28.32 and a twelve month high of $54.13. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.18. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $2.19 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The company's revenue was up 41.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 earnings per share. Equities analysts expect that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $0.0901 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.98%. This is an increase from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio is 58.62%.

About Teck Resources

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.