TD Asset Management Inc Buys 33,475 Shares of Teck Resources Ltd (NYSE:TECK)

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 boosted its position in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 0.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 1.22% of Teck Resources worth $218,781,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its stake in Teck Resources by 2.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company's stock worth $566,000 after acquiring an additional 302 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in Teck Resources by 2.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 13,511 shares of the basic materials company's stock worth $548,000 after acquiring an additional 335 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in Teck Resources by 0.5% during the first quarter. Vontobel Holding Ltd. now owns 88,303 shares of the basic materials company's stock worth $3,217,000 after acquiring an additional 400 shares in the last quarter. Assetmark Inc. boosted its stake in Teck Resources by 2.4% during the first quarter. Assetmark Inc. now owns 19,945 shares of the basic materials company's stock worth $727,000 after acquiring an additional 471 shares in the last quarter. Finally, Ervin Investment Management LLC lifted its stake in shares of Teck Resources by 5.1% in the first quarter. Ervin Investment Management LLC now owns 10,980 shares of the basic materials company's stock worth $400,000 after buying an additional 535 shares in the last quarter. Institutional investors own 78.06% of the company's stock.

Teck Resources Stock Performance

TECK stock traded down $0.32 during midday trading on Wednesday, reaching $32.71. 1,845,253 shares of the company's stock traded hands, compared to its average volume of 3,740,330. Teck Resources Ltd has a 52-week low of $28.32 and a 52-week high of $54.13. The stock has a market cap of $15.80 billion, a P/E ratio of 85.94, a PEG ratio of 0.54 and a beta of 0.80. The company has a current ratio of 3.47, a quick ratio of 2.57 and a debt-to-equity ratio of 0.15. The stock's 50-day moving average is $38.07 and its 200 day moving average is $38.44.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its earnings results 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 business had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $2.25 billion. Teck Resources had a net margin of 2.51% and a return on equity of 3.91%. The firm's revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.79 earnings per share. As a group, analysts anticipate that Teck Resources Ltd will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a dividend of $0.0918 per share. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.37 dividend on an annualized basis and a dividend yield of 1.12%. Teck Resources's dividend payout ratio is currently 94.74%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TECK shares. B. Riley downgraded shares of Teck Resources from a "buy" rating to a "neutral" rating in a research note on Monday. UBS Group reiterated a "neutral" rating on shares of Teck Resources in a research note on Tuesday, April 15th. Royal Bank Of Canada dropped their target price on shares of Teck Resources from $82.00 to $67.00 and set an "outperform" rating on the stock in a research note on Friday, July 25th. Veritas upgraded shares of Teck Resources to a "hold" rating in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $41.00 target price (down previously from $46.00) on shares of Teck Resources in a research note on Friday, July 25th. Thirteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price 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.