Teck Resources Limited (NYSE:TECK) Stock Holdings Lifted by Northern Trust Corp

Northern Trust Corp lifted its position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 55.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 391,370 shares of the basic materials company's stock after acquiring an additional 140,404 shares during the quarter. Northern Trust Corp owned 0.08% of Teck Resources worth $15,862,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in Teck Resources by 38.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,638,973 shares of the basic materials company's stock worth $107,135,000 after buying an additional 736,721 shares during the period. Aquatic Capital Management LLC acquired a new position in Teck Resources during the fourth quarter worth about $5,067,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Teck Resources in the fourth quarter valued at about $3,234,000. Nekton Capital Ltd. lifted its holdings in shares of Teck Resources by 99.1% in the fourth quarter. Nekton Capital Ltd. now owns 130,892 shares of the basic materials company's stock valued at $5,305,000 after purchasing an additional 65,151 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Teck Resources by 24.9% in the fourth quarter. Hsbc Holdings PLC now owns 332,153 shares of the basic materials company's stock valued at $13,463,000 after purchasing an additional 66,302 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Stock Down 2.3%

TECK traded down $0.84 during trading hours on Friday, reaching $35.65. 4,969,400 shares of the stock traded hands, compared to its average volume of 3,164,357. The firm's fifty day simple moving average is $36.10 and its two-hundred day simple moving average is $40.78. The company has a market cap of $17.57 billion, a price-to-earnings ratio of 64.82 and a beta of 0.79. Teck Resources Limited has a fifty-two week low of $28.32 and a fifty-two week high of $55.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.18. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $2.19 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The business's revenue was up 41.4% on a year-over-year basis. During the same period last year, the business earned $0.75 EPS. As a group, analysts forecast that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TECK shares. National Bank Financial raised shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. UBS Group reissued a "neutral" rating on shares of Teck Resources in a research note on Tuesday, April 15th. Veritas raised shares of Teck Resources to a "hold" rating in a research note on Friday, April 11th. Desjardins assumed coverage on shares of Teck Resources in a research note on Friday, April 4th. They set a "buy" rating on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $64.11.

Teck Resources 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.