Toronto Dominion Bank trimmed its position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 15.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 761,437 shares of the basic materials company's stock after selling 141,695 shares during the period. Toronto Dominion Bank owned about 0.15% of Teck Resources worth $30,833,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Teck Resources by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company's stock worth $783,153,000 after purchasing an additional 58,985 shares in the last quarter. Amundi grew its position in Teck Resources by 5.6% in the fourth quarter. Amundi now owns 14,949,233 shares of the basic materials company's stock valued at $619,765,000 after acquiring an additional 791,725 shares in the last quarter. Norges Bank acquired a new stake in Teck Resources in the fourth quarter valued at approximately $470,101,000. Invesco Ltd. grew its position in Teck Resources by 4.7% in the fourth quarter. Invesco Ltd. now owns 7,711,727 shares of the basic materials company's stock valued at $312,556,000 after acquiring an additional 347,235 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in Teck Resources by 2.0% in the fourth quarter. CIBC Asset Management Inc now owns 6,623,228 shares of the basic materials company's stock valued at $269,956,000 after acquiring an additional 127,348 shares in the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.
Teck Resources Stock Up 3.2%
Shares of Teck Resources stock traded up $1.15 during trading on Friday, hitting $36.62. 2,992,306 shares of the stock traded hands, compared to its average volume of 3,145,832. The stock has a market cap of $18.04 billion, a P/E ratio of 66.58 and a beta of 0.79. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. Teck Resources Limited has a twelve month low of $28.32 and a twelve month high of $54.13. The company has a fifty day moving average price of $35.54 and a two-hundred day moving average price of $40.37.
Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.18. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $2.19 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The firm's revenue was up 41.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.75 EPS. Equities research analysts predict that Teck Resources Limited will post 1.53 EPS for the current fiscal year.
Teck Resources Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.0901 dividend. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.36 annualized dividend and a yield of 0.98%. The ex-dividend date is Monday, June 16th. Teck Resources's payout ratio is 58.62%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on the company. National Bankshares upgraded Teck Resources from a "sector perform" rating to an "outperform" rating in a research note on Thursday, April 24th. UBS Group restated a "neutral" rating on shares of Teck Resources in a research note on Tuesday, April 15th. Bank of America raised their price objective on Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Desjardins assumed coverage on Teck Resources in a research note on Friday, April 4th. They issued a "buy" rating on the stock. Finally, National Bank Financial upgraded Teck Resources from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $64.11.
View Our Latest Stock Report on TECK
About Teck Resources
(
Free Report)
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.
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