Teck Resources Ltd (NYSE:TECK) Shares Bought by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its stake in Teck Resources by 0.6%, holding 6,006,865 shares valued at approximately $218.8 million.
• Teck Resources declared a quarterly dividend of $0.0918, up from the previous $0.09, reflecting a dividend yield of 1.11%.
• Teck Resources experienced a 6.1% decline in stock price recently, with current trading at $33.00, while analysts forecast an EPS of 1.53 for the year.

TD Asset Management Inc grew its holdings in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 0.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 6,006,865 shares of the basic materials company's stock after acquiring an additional 33,475 shares during the period. TD Asset Management Inc owned about 1.22% of Teck Resources worth $218,781,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its holdings in Teck Resources by 7,560.0% in the first quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company's stock valued at $42,000 after buying an additional 1,134 shares during the period. Ameriflex Group Inc. bought a new position in shares of Teck Resources in the 4th quarter worth $50,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Teck Resources during the 4th quarter worth approximately $55,000. Bruce G. Allen Investments LLC lifted its holdings in shares of Teck Resources by 104.8% in the first quarter. Bruce G. Allen Investments LLC now owns 1,636 shares of the basic materials company's stock valued at $60,000 after purchasing an additional 837 shares in the last quarter. Finally, Altshuler Shaham Ltd purchased a new position in Teck Resources during the 4th quarter worth $70,000. Institutional investors own 78.06% of the company's stock.

Wall Street Analyst Weigh In

TECK has been the topic of a number of research reports. Cibc World Mkts cut shares of Teck Resources from a "strong-buy" rating to a "hold" rating in a report on Friday. Desjardins cut Teck Resources from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Stifel Canada upgraded shares of Teck Resources to a "hold" rating in a research report on Tuesday, July 8th. B. Riley downgraded shares of Teck Resources from a "buy" rating to a "neutral" rating in a research note on Monday. Finally, Veritas upgraded shares of Teck Resources to a "hold" rating in a research note on Friday, April 11th. Thirteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $60.11.

Teck Resources Price Performance

TECK traded up $0.77 during trading on Monday, hitting $33.77. 9,070,350 shares of the company traded hands, compared to its average volume of 4,764,063. The company has a current ratio of 3.36, a quick ratio of 2.57 and a debt-to-equity ratio of 0.15. The company has a market cap of $16.31 billion, a PE ratio of 88.87, a P/E/G ratio of 0.52 and a beta of 0.80. The stock's 50-day simple moving average is $38.17 and its two-hundred day simple moving average is $38.54. Teck Resources Ltd has a 1 year low of $28.32 and a 1 year high of $54.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its earnings results on Thursday, July 24th. The basic materials company reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.07. Teck Resources had a net margin of 2.51% and a return on equity of 3.87%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period last year, the firm posted $0.79 earnings per share. Teck Resources's revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The business also recently announced 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 represents a $0.37 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Monday, September 15th. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's payout ratio is 94.74%.

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.