American Century Companies Inc. Acquires 18,825 Shares of Teck Resources Ltd $TECK

Key Points

• American Century Companies Inc. increased its ownership in Teck Resources Ltd by 2.3%, holding approximately 839,524 shares valued at $30.58 million, as detailed in its recent 13F filing with the SEC.
• Teck Resources declared a quarterly dividend of $0.0918 per share, an increase from its previous dividend, which indicates a 1.2% annual dividend yield and a payout ratio of 94.74%.
• Analysts have mixed ratings on Teck Resources, with revisions to "hold" from "buy" or "strong-buy" by multiple firms, despite a consensus price target of $60.11.

American Century Companies Inc. increased its holdings in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 2.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 839,524 shares of the basic materials company's stock after acquiring an additional 18,825 shares during the period. American Century Companies Inc. owned about 0.17% of Teck Resources worth $30,583,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in TECK. Rockefeller Capital Management L.P. raised its holdings in shares of Teck Resources by 2.5% in the 4th 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 during the last quarter. First Trust Advisors LP raised its holdings in shares of Teck Resources by 1.6% in the 4th quarter. First Trust Advisors LP now owns 65,749 shares of the basic materials company's stock worth $2,665,000 after acquiring an additional 1,027 shares during the last quarter. State of Tennessee Department of Treasury raised its holdings in shares of Teck Resources by 0.7% in the 4th quarter. State of Tennessee Department of Treasury now owns 265,588 shares of the basic materials company's stock worth $10,762,000 after acquiring an additional 1,731 shares during the last quarter. J. Safra Sarasin Holding AG raised its holdings in shares of Teck Resources by 35.5% in the 4th quarter. J. Safra Sarasin Holding AG now owns 24,475 shares of the basic materials company's stock worth $992,000 after acquiring an additional 6,407 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of Teck Resources by 24.9% in the 4th quarter. Hsbc Holdings PLC now owns 332,153 shares of the basic materials company's stock worth $13,463,000 after acquiring an additional 66,302 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company's stock.

Teck Resources Stock Performance

Shares of TECK stock traded up $1.84 during trading hours on Friday, hitting $33.60. 4,897,497 shares of the company were exchanged, compared to its average volume of 4,039,920. The firm has a fifty day simple moving average of $36.19 and a 200 day simple moving average of $37.16. The company has a current ratio of 3.47, a quick ratio of 2.45 and a debt-to-equity ratio of 0.15. Teck Resources Ltd has a 52-week low of $28.32 and a 52-week high of $54.13. The stock has a market capitalization of $16.23 billion, a price-to-earnings ratio of 88.42, a P/E/G ratio of 0.53 and a beta of 0.81.

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

Teck Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.0918 per share. This represents a $0.37 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, September 15th. This is an increase from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio (DPR) is 94.74%.

Analysts Set New Price Targets

TECK has been the topic of a number of analyst reports. Stifel Canada upgraded shares of Teck Resources to a "hold" rating in a report on Tuesday, July 8th. Wall Street Zen upgraded shares of Teck Resources from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Benchmark decreased their price objective on shares of Teck Resources from $55.00 to $48.00 and set a "buy" rating for the company in a research note on Monday, July 28th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $41.00 price objective (down previously from $46.00) on shares of Teck Resources in a research note on Friday, July 25th. Finally, B. Riley lowered shares of Teck Resources from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat, Teck Resources currently has an average 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.