Teck Resources Ltd $TECK Shares Bought by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Teck Resources Ltd by 2.8%, now holding approximately 1.46 million shares valued at $53 million.
• Teck Resources recently disclosed an increased dividend of $0.0918 per share, reflecting a yield of 1.1% compared to the previous dividend of $0.09.
• The company's stock has a market cap of $15.59 billion and recently reported an earnings per share of $0.27, exceeding analyst expectations of $0.20.

Charles Schwab Investment Management Inc. lifted its position in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,455,546 shares of the basic materials company's stock after purchasing an additional 40,010 shares during the period. Charles Schwab Investment Management Inc. owned about 0.30% of Teck Resources worth $53,014,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Teck Resources by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 19,531,542 shares of the basic materials company's stock worth $711,475,000 after purchasing an additional 215,410 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Teck Resources by 56.9% during the 1st quarter. Principal Financial Group Inc. now owns 11,530,742 shares of the basic materials company's stock worth $419,970,000 after purchasing an additional 4,180,623 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Teck Resources by 2.3% during the 1st quarter. Mackenzie Financial Corp now owns 6,020,429 shares of the basic materials company's stock worth $219,297,000 after purchasing an additional 137,886 shares during the last quarter. TD Asset Management Inc lifted its position in shares of Teck Resources by 0.6% during the 1st quarter. TD Asset Management Inc now owns 6,006,865 shares of the basic materials company's stock worth $218,781,000 after purchasing an additional 33,475 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of Teck Resources by 18.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 5,882,044 shares of the basic materials company's stock worth $238,381,000 after purchasing an additional 932,058 shares during the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Stock Performance

NYSE TECK traded down $0.1450 during trading on Wednesday, reaching $31.2550. The company's stock had a trading volume of 2,721,154 shares, compared to its average volume of 5,017,334. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.45 and a current ratio of 3.47. The firm has a market cap of $15.10 billion, a price-to-earnings ratio of 82.25, a P/E/G ratio of 0.50 and a beta of 0.81. Teck Resources Ltd has a twelve month low of $28.32 and a twelve month high of $54.13. The business's fifty day moving average price is $36.41 and its 200-day moving average price is $37.35.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.07. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $2.25 billion. Teck Resources had a net margin of 2.51% and a return on equity of 3.91%. Teck Resources's quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 earnings per share. As a group, analysts anticipate that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a $0.0918 dividend. This is a boost from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.37 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, September 15th. Teck Resources's dividend payout ratio (DPR) is presently 94.74%.

Wall Street Analysts Forecast Growth

TECK has been the subject of several recent analyst reports. CIBC cut shares of Teck Resources from a "sector outperform" rating to a "neutral" rating in a research report on Friday, July 25th. B. Riley lowered shares of Teck Resources from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Benchmark cut their price target on shares of Teck Resources from $55.00 to $48.00 and set a "buy" rating on the stock in a research note on Monday, July 28th. National Bankshares upgraded shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a research note on Thursday, April 24th. Finally, National Bank Financial upgraded shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, Teck Resources presently has an average rating of "Hold" and an average price target of $60.11.

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.