Teck Resources Ltd $TECK Holdings Decreased by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada cut its stake in Teck Resources by 5.3% in Q4, selling 104,014 shares and leaving it with 1,858,869 shares valued at about $88.85 million (0.39% of the company).
• Several large institutions materially increased positions—Principal, Wellington, Temasek and others boosted holdings—and institutional investors now own about 78.06% of Teck's stock.
• Analyst coverage is mixed (average rating: Hold, average price target $59.67), while Teck recently beat EPS estimates ($0.98 vs. $0.59) and pays a quarterly dividend of $0.125 (annualized yield ~0.8%).

TD Waterhouse Canada Inc. decreased its holdings in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,858,869 shares of the basic materials company's stock after selling 104,014 shares during the quarter. TD Waterhouse Canada Inc. owned 0.39% of Teck Resources worth $88,850,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Principal Financial Group Inc. grew its holdings in shares of Teck Resources by 36.1% during the third quarter. Principal Financial Group Inc. now owns 16,879,229 shares of the basic materials company's stock valued at $740,604,000 after buying an additional 4,474,637 shares in the last quarter. Hancock Prospecting Pty Ltd boosted its position in Teck Resources by 1.6% during the third quarter. Hancock Prospecting Pty Ltd now owns 7,820,949 shares of the basic materials company's stock valued at $343,261,000 after purchasing an additional 125,000 shares during the last quarter. Wellington Management Group LLP boosted its position in Teck Resources by 264.5% during the third quarter. Wellington Management Group LLP now owns 5,781,060 shares of the basic materials company's stock valued at $253,695,000 after purchasing an additional 4,194,868 shares during the last quarter. Invesco Ltd. boosted its position in Teck Resources by 1.7% during the third quarter. Invesco Ltd. now owns 5,659,725 shares of the basic materials company's stock valued at $248,405,000 after purchasing an additional 93,770 shares during the last quarter. Finally, Temasek Holdings Private Ltd boosted its position in Teck Resources by 47.2% during the third quarter. Temasek Holdings Private Ltd now owns 5,250,004 shares of the basic materials company's stock valued at $230,423,000 after purchasing an additional 1,682,625 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company's stock.

Wall Street Analysts Forecast Growth

TECK has been the subject of a number of research reports. Citigroup raised Teck Resources from a "neutral" rating to a "buy" rating in a research report on Monday, February 2nd. Zacks Research raised Teck Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 23rd. Veritas raised Teck Resources from a "strong sell" rating to a "strong-buy" rating in a research report on Thursday, January 15th. Weiss Ratings reissued a "hold (c)" rating on shares of Teck Resources in a research report on Wednesday, January 21st. Finally, Raymond James Financial cut Teck Resources from an "outperform" rating to a "market perform" rating in a research report on Wednesday, January 14th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $59.67.

Teck Resources Price Performance

TECK opened at $59.31 on Monday. The stock has a market cap of $28.59 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 3.01 and a beta of 0.85. Teck Resources Ltd has a 1 year low of $30.98 and a 1 year high of $62.41. The company has a current ratio of 2.54, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average price of $54.55 and a 200 day moving average price of $49.02.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings results on Thursday, February 19th. The basic materials company reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.39. The company had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.28 billion. Teck Resources had a return on equity of 5.90% and a net margin of 12.98%.The business's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 earnings per share. Analysts forecast that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, March 13th. Teck Resources's dividend payout ratio is 18.32%.

About Teck Resources

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company's operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.

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