Cetera Investment Advisers Grows Stake in Teck Resources Limited (NYSE:TECK)

Cetera Investment Advisers grew its position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 20.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,793 shares of the basic materials company's stock after buying an additional 9,887 shares during the quarter. Cetera Investment Advisers' holdings in Teck Resources were worth $2,342,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TECK. Balyasny Asset Management L.P. raised its holdings in Teck Resources by 21.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,046,803 shares of the basic materials company's stock worth $42,427,000 after purchasing an additional 187,489 shares during the period. Bayesian Capital Management LP bought a new position in Teck Resources in the 4th quarter worth $3,216,000. BNP Paribas Financial Markets raised its holdings in 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 worth $11,484,000 after purchasing an additional 141,753 shares during the period. Itau Unibanco Holding S.A. raised its holdings in Teck Resources by 42.4% during the fourth quarter. Itau Unibanco Holding S.A. now owns 20,679 shares of the basic materials company's stock valued at $834,000 after acquiring an additional 6,158 shares during the period. Finally, Soros Fund Management LLC raised its holdings in Teck Resources by 8.0% during the fourth quarter. Soros Fund Management LLC now owns 347,171 shares of the basic materials company's stock valued at $14,071,000 after acquiring an additional 25,668 shares during the period. Hedge funds and other institutional investors own 78.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TECK shares. National Bankshares upgraded Teck Resources from a "sector perform" rating to an "outperform" rating in a research report on Thursday, April 24th. Desjardins started coverage on Teck Resources in a research report on Friday, April 4th. They set a "buy" rating for the company. Veritas upgraded Teck Resources to a "hold" rating in a research report on Friday, April 11th. National Bank Financial upgraded Teck Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Finally, BMO Capital Markets started coverage on Teck Resources in a research report on Wednesday, April 16th. They issued an "outperform" rating for the company. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.11.

Teck Resources Trading Up 3.2%

NYSE TECK traded up $1.15 during trading on Friday, hitting $36.62. The stock had a trading volume of 2,992,306 shares, compared to its average volume of 3,145,832. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The stock has a market capitalization of $18.04 billion, a price-to-earnings ratio of 66.58 and a beta of 0.79. Teck Resources Limited has a one year low of $28.32 and a one year high of $54.13. The stock has a 50 day simple moving average of $35.54 and a 200 day simple moving average of $40.37.

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

Teck Resources Increases Dividend

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

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.