Teck Resources Ltd $TECK Stock Holdings Boosted by Groupama Asset Managment

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Groupama Asset Managment lifted its holdings in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 19.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,872,231 shares of the basic materials company's stock after purchasing an additional 305,730 shares during the quarter. Groupama Asset Managment owned about 0.38% of Teck Resources worth $70,551,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in TECK. Rockefeller Capital Management L.P. increased its position 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 purchasing an additional 335 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Teck Resources by 0.5% in the 1st quarter. Vontobel Holding Ltd. now owns 88,303 shares of the basic materials company's stock valued at $3,217,000 after purchasing an additional 400 shares during the last quarter. Assetmark Inc. grew its stake in shares of Teck Resources by 2.4% during the 1st quarter. Assetmark Inc. now owns 19,945 shares of the basic materials company's stock valued at $727,000 after buying an additional 471 shares during the period. Ervin Investment Management LLC grew its stake in shares of Teck Resources by 5.1% during the 1st quarter. Ervin Investment Management LLC now owns 10,980 shares of the basic materials company's stock valued at $400,000 after buying an additional 535 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Teck Resources by 1.0% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 53,616 shares of the basic materials company's stock worth $1,953,000 after buying an additional 535 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Stock Performance

Shares of TECK traded up $1.84 during mid-day trading on Friday, hitting $33.60. The stock had a trading volume of 4,897,497 shares, compared to its average volume of 3,749,394. The company has a quick ratio of 2.45, a current ratio of 3.47 and a debt-to-equity ratio of 0.15. Teck Resources Ltd has a fifty-two week low of $28.32 and a fifty-two week high of $54.13. The company's fifty day simple moving average is $36.29 and its two-hundred day simple moving average is $37.29. The company has a market cap of $16.23 billion, a PE ratio of 88.42, a PEG ratio of 0.49 and a beta of 0.81.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings data 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 3.91%. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the prior year, the firm earned $0.79 EPS. The company's revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities analysts expect that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a $0.0918 dividend. 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 yield of 1.1%. Teck Resources's dividend payout ratio is currently 94.74%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Royal Bank Of Canada dropped their price target on Teck Resources from $82.00 to $67.00 and set an "outperform" rating for the company in a research note on Friday, July 25th. National Bankshares raised shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a research report on Thursday, April 24th. Cibc World Mkts downgraded shares of Teck Resources from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. CIBC downgraded shares of Teck Resources from a "sector outperform" rating to a "neutral" rating in a research note on Friday, July 25th. Finally, Morgan Stanley cut Teck Resources from an "overweight" rating to an "equal weight" rating and boosted their price objective for the stock from $42.00 to $44.00 in a research note on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $60.11.

About Teck Resources

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.