Mirae Asset Global Investments Co. Ltd. lessened its stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 12.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,718,939 shares of the basic materials company's stock after selling 252,162 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.34% of Teck Resources worth $73,015,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Baystate Wealth Management LLC acquired a new position in shares of Teck Resources in the 3rd quarter valued at about $31,000. Money Concepts Capital Corp acquired a new position in Teck Resources in the 4th quarter worth about $29,000. JFS Wealth Advisors LLC raised its holdings in Teck Resources by 249.0% in the 3rd quarter. JFS Wealth Advisors LLC now owns 841 shares of the basic materials company's stock worth $36,000 after purchasing an additional 600 shares during the period. Achmea Investment Management B.V. acquired a new position in Teck Resources in the 1st quarter worth about $37,000. Finally, Covestor Ltd acquired a new position in Teck Resources in the 1st quarter worth about $53,000. Institutional investors and hedge funds own 78.06% of the company's stock.
Teck Resources Price Performance
Shares of TECK stock traded down $0.19 during trading hours on Friday, reaching $46.73. The company had a trading volume of 3,719,742 shares, compared to its average volume of 4,063,338. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.60 and a current ratio of 1.10. The stock has a fifty day moving average of $41.25 and a 200-day moving average of $39.69. The company has a market capitalization of $23.86 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 5.66 and a beta of 1.15. Teck Resources Limited has a 12-month low of $34.38 and a 12-month high of $49.34.
Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.01. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.11 billion. Teck Resources had a return on equity of 9.67% and a net margin of 16.21%. On average, equities analysts anticipate that Teck Resources Limited will post 4 earnings per share for the current year.
Teck Resources Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $0.0925 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.37 dividend on an annualized basis and a dividend yield of 0.79%. Teck Resources's dividend payout ratio (DPR) is presently 10.79%.
Analyst Ratings Changes
A number of research firms recently weighed in on TECK. Benchmark reaffirmed a "buy" rating and issued a $50.00 price target on shares of Teck Resources in a report on Monday, January 22nd. UBS Group began coverage on Teck Resources in a report on Tuesday, January 16th. They issued a "buy" rating for the company. Morgan Stanley reduced their price target on Teck Resources from $45.00 to $44.00 and set an "overweight" rating for the company in a report on Monday, February 26th. Finally, StockNews.com initiated coverage on Teck Resources in a research note on Monday, December 11th. They set a "hold" rating for the company. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $64.13.
View Our Latest Analysis on TECK
About Teck Resources
(
Free Report)
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.
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