Temasek Holdings Private Ltd Acquires 143,412 Shares of Teck Resources Limited (NYSE:TECK)

Temasek Holdings Private Ltd raised its stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 15.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,098,200 shares of the basic materials company's stock after buying an additional 143,412 shares during the quarter. Temasek Holdings Private Ltd owned 0.22% of Teck Resources worth $44,510,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of TECK. PNC Financial Services Group Inc. increased its position in shares of Teck Resources by 2.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the basic materials company's stock valued at $471,000 after acquiring an additional 243 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Teck Resources by 2.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 9,809 shares of the basic materials company's stock worth $398,000 after purchasing an additional 279 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in Teck Resources by 6.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,844 shares of the basic materials company's stock valued at $196,000 after acquiring an additional 297 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Teck Resources by 2.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company's stock valued at $566,000 after buying an additional 302 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Teck Resources by 7.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company's stock valued at $198,000 after buying an additional 327 shares during the period. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Trading Down 0.9%

Shares of Teck Resources stock traded down $0.33 during trading on Wednesday, hitting $35.64. The stock had a trading volume of 1,853,660 shares, compared to its average volume of 3,149,895. The stock has a 50 day simple moving average of $35.79 and a 200 day simple moving average of $40.59. The company has a market capitalization of $17.56 billion, a PE ratio of 64.79 and a beta of 0.79. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. Teck Resources Limited 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 announced its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.18. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $2.19 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The firm's revenue was up 41.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 earnings per share. On average, research analysts expect that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.0901 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.01%. This is a boost from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date is Monday, June 16th. Teck Resources's payout ratio is presently 58.62%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TECK shares. Raymond James cut their price objective on Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a research report on Wednesday, January 22nd. National Bankshares raised Teck Resources from a "sector perform" rating to an "outperform" rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. cut their target price on Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. National Bank Financial raised shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, UBS Group restated a "neutral" rating on shares of Teck Resources in a research report on Tuesday, April 15th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $64.11.

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.