Vanguard Group Inc. Buys 278,481 Shares of Teck Resources Ltd $TECK

Key Points

• Vanguard Group boosted its stake by 278,481 shares in Q4 to 20,185,694 shares — a 4.20% ownership position valued at about $966.37 million, and institutional investors now hold roughly 78.06% of Teck.
• Teck beat quarterly EPS estimates ($0.98 actual vs. $0.59 expected) with revenue up 9.8% year‑over‑year; the stock trades near $58, has a market cap of $27.95 billion and a 12‑month range of $30.98–$63.26.
• The company declared a quarterly dividend of $0.125 per share (annualized $0.50, yield 0.9%) payable June 30, while analysts have an average rating of "Hold" and a $59.17 average target price.

Vanguard Group Inc. boosted its holdings in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,185,694 shares of the basic materials company's stock after acquiring an additional 278,481 shares during the quarter. Vanguard Group Inc. owned 4.20% of Teck Resources worth $966,370,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Principal Financial Group Inc. boosted its holdings in Teck Resources by 36.1% during the 3rd quarter. Principal Financial Group Inc. now owns 16,879,229 shares of the basic materials company's stock valued at $740,604,000 after acquiring an additional 4,474,637 shares during the period. Hancock Prospecting Pty Ltd boosted its holdings in Teck Resources by 1.6% during the 3rd quarter. Hancock Prospecting Pty Ltd now owns 7,820,949 shares of the basic materials company's stock valued at $343,261,000 after acquiring an additional 125,000 shares during the period. Wellington Management Group LLP boosted its holdings in Teck Resources by 264.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,781,060 shares of the basic materials company's stock valued at $253,695,000 after acquiring an additional 4,194,868 shares during the period. Invesco Ltd. boosted its holdings in Teck Resources by 1.7% during the 3rd quarter. Invesco Ltd. now owns 5,659,725 shares of the basic materials company's stock valued at $248,405,000 after acquiring an additional 93,770 shares during the period. Finally, Temasek Holdings Private Ltd boosted its holdings in Teck Resources by 47.2% during the 3rd quarter. Temasek Holdings Private Ltd now owns 5,250,004 shares of the basic materials company's stock valued at $230,423,000 after acquiring an additional 1,682,625 shares during the period. 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 recent analyst reports. TD Securities restated a "hold" rating on shares of Teck Resources in a report on Friday, April 24th. Citigroup upgraded Teck Resources from a "neutral" rating to a "buy" rating in a report on Monday, February 2nd. Zacks Research cut Teck Resources from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 22nd. Veritas upgraded Teck Resources from a "strong sell" rating to a "strong-buy" rating in a report on Thursday, January 15th. Finally, Weiss Ratings upgraded Teck Resources from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $59.17.

Teck Resources Trading Down 0.8%

Shares of NYSE TECK opened at $57.99 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $54.53 and a two-hundred day simple moving average of $49.92. The firm has a market cap of $27.95 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 3.03 and a beta of 0.86. Teck Resources Ltd has a twelve month low of $30.98 and a twelve month high of $63.26.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its earnings results on Thursday, February 19th. The basic materials company reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.39. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.28 billion. Teck Resources had a return on equity of 7.94% and a net margin of 14.91%.Teck Resources's revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 EPS. Analysts expect that Teck Resources Ltd will post 2.59 earnings per share for the current fiscal year.

Teck Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.50 dividend on an annualized basis and a yield of 0.9%. Teck Resources's payout ratio is 13.55%.

Teck Resources Company Profile

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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