Fmr LLC Grows Position in Teck Resources Limited (NYSE:TECK)

FMR LLC increased its position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 29.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,715,144 shares of the basic materials company's stock after acquiring an additional 1,080,714 shares during the period. FMR LLC owned about 0.95% of Teck Resources worth $191,133,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new position in shares of Teck Resources during the fourth quarter valued at $25,000. Global Trust Asset Management LLC purchased a new stake in shares of Teck Resources during the 4th quarter valued at about $27,000. FPC Investment Advisory Inc. bought a new stake in shares of Teck Resources in the fourth quarter worth approximately $27,000. Community Bank N.A. purchased a new position in shares of Teck Resources during the fourth quarter valued at approximately $33,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Teck Resources in the third quarter worth approximately $40,000. 78.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Bank of America increased their price target on Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a report on Monday, March 10th. Desjardins initiated coverage on shares of Teck Resources in a research report on Friday, April 4th. They set a "buy" rating for the company. National Bankshares reissued a "sector perform" rating on shares of Teck Resources in a report on Wednesday, April 2nd. Raymond James decreased their price target on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 22nd. Finally, BMO Capital Markets initiated coverage on Teck Resources in a research note on Wednesday. They issued an "outperform" rating for the company. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $64.11.

Teck Resources Price Performance

Shares of Teck Resources stock traded down $0.55 during trading on Friday, reaching $32.90. 2,714,398 shares of the stock traded hands, compared to its average volume of 3,184,467. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The company has a market capitalization of $16.28 billion, a price-to-earnings ratio of 59.82 and a beta of 0.81. Teck Resources Limited has a 52-week low of $28.32 and a 52-week high of $55.13. The business has a fifty day simple moving average of $38.60 and a two-hundred day simple moving average of $42.95.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. Sell-side analysts expect that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.0879 dividend. This represents a $0.35 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, March 14th. Teck Resources's payout ratio is 61.82%.

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.