Swedbank AB Boosts Holdings in Teck Resources Ltd $TECK

Key Points

• Swedbank AB increased its stake in Teck Resources by 45.9% in Q4 to 3,243,000 shares (≈0.67% of the company), worth about $155.3 million.
• Analyst views are mixed: MarketBeat's consensus rating is a “Hold” with a $59.17 average price target, while several firms (e.g., Benchmark, Citigroup, UBS) have recently issued or reiterated buy ratings and raised targets.
• Teck reported an earnings beat (Q) EPS $0.98 vs. $0.59, has a $27.8B market cap and P/E of 21.15, and declared a quarterly dividend of $0.125 (annualized $0.50, ~0.9% yield).

Swedbank AB grew its stake in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 45.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,243,000 shares of the basic materials company's stock after purchasing an additional 1,020,000 shares during the period. Swedbank AB owned approximately 0.67% of Teck Resources worth $155,307,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Teck Resources by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 20,185,694 shares of the basic materials company's stock valued at $966,370,000 after purchasing an additional 278,481 shares during the period. Principal Financial Group Inc. raised its holdings in Teck Resources by 11.6% in the fourth quarter. Principal Financial Group Inc. now owns 18,832,299 shares of the basic materials company's stock worth $902,769,000 after purchasing an additional 1,953,070 shares in the last quarter. Davis Selected Advisers lifted its position in Teck Resources by 9.0% during the fourth quarter. Davis Selected Advisers now owns 12,019,609 shares of the basic materials company's stock valued at $575,620,000 after buying an additional 995,947 shares during the period. Hancock Prospecting Pty Ltd boosted its holdings in shares of Teck Resources by 1.6% during the 3rd quarter. Hancock Prospecting Pty Ltd now owns 7,820,949 shares of the basic materials company's stock valued at $343,261,000 after buying an additional 125,000 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Teck Resources by 264.5% in the 3rd quarter. Wellington Management Group LLP now owns 5,781,060 shares of the basic materials company's stock worth $253,695,000 after buying an additional 4,194,868 shares during the period. 78.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on TECK shares. Zacks Research cut shares of Teck Resources from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 22nd. Citigroup raised shares of Teck Resources from a "neutral" rating to a "buy" rating in a research note on Monday, February 2nd. TD Securities reiterated a "hold" rating on shares of Teck Resources in a report on Friday, April 24th. Benchmark boosted their price target on Teck Resources from $48.00 to $67.00 and gave the stock a "buy" rating in a research report on Monday, February 23rd. Finally, UBS Group restated a "buy" rating on shares of Teck Resources in a research note on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and thirteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Teck Resources currently has an average rating of "Hold" and a consensus price target of $59.17.

Teck Resources Stock Performance

Shares of Teck Resources stock opened at $57.75 on Wednesday. The stock has a market cap of $27.83 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 4.27 and a beta of 0.86. The firm's 50-day moving average is $54.49 and its 200 day moving average is $50.10. Teck Resources Ltd has a 1 year low of $30.98 and a 1 year high of $63.26. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.39. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.28 billion. Teck Resources had a net margin of 14.91% and a return on equity of 7.94%. Teck Resources's revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business earned $0.45 EPS. Sell-side analysts anticipate that Teck Resources Ltd will post 2.61 EPS for the current fiscal year.

Teck Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.50 annualized dividend and a dividend yield of 0.9%. Teck Resources's dividend payout ratio (DPR) is 13.55%.

Teck Resources 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.

Want to see what other hedge funds are holding TECK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.