International Assets Investment Management LLC Acquires 562,259 Shares of Teck Resources Limited (NYSE:TECK)

International Assets Investment Management LLC boosted its holdings in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 5,354.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 572,759 shares of the basic materials company's stock after purchasing an additional 562,259 shares during the quarter. International Assets Investment Management LLC owned 0.11% of Teck Resources worth $24,211,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of TECK. Wetherby Asset Management Inc. grew its holdings in shares of Teck Resources by 0.7% during the 1st quarter. Wetherby Asset Management Inc. now owns 39,655 shares of the basic materials company's stock worth $1,447,000 after purchasing an additional 270 shares in the last quarter. Daymark Wealth Partners LLC grew its stake in Teck Resources by 3.6% during the third quarter. Daymark Wealth Partners LLC now owns 7,910 shares of the basic materials company's stock worth $341,000 after buying an additional 273 shares in the last quarter. Wealthsource Partners LLC increased its holdings in Teck Resources by 4.0% in the 3rd quarter. Wealthsource Partners LLC now owns 7,747 shares of the basic materials company's stock valued at $334,000 after buying an additional 300 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Teck Resources by 4.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,067 shares of the basic materials company's stock valued at $327,000 after buying an additional 341 shares in the last quarter. Finally, Shell Asset Management Co. lifted its holdings in shares of Teck Resources by 2.9% during the 3rd quarter. Shell Asset Management Co. now owns 13,649 shares of the basic materials company's stock worth $590,000 after acquiring an additional 386 shares during the period. Institutional investors own 78.06% of the company's stock.

Teck Resources Trading Down 1.6 %

Shares of NYSE:TECK traded down $0.81 during midday trading on Thursday, hitting $48.57. 4,055,427 shares of the stock were exchanged, compared to its average volume of 3,941,193. The business's 50-day moving average price is $41.90 and its 200 day moving average price is $39.91. Teck Resources Limited has a 12 month low of $34.38 and a 12 month high of $50.30. 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 market capitalization of $24.79 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 6.02 and a beta of 1.15.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.01. The firm had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $3.11 billion. Teck Resources had a net margin of 16.21% and a return on equity of 9.67%. Analysts predict that Teck Resources Limited will post 3.77 earnings per share for the current year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.0925 per share. This represents a $0.37 annualized dividend and a yield of 0.76%. The ex-dividend date was Thursday, March 14th. Teck Resources's payout ratio is presently 10.79%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TECK shares. UBS Group began coverage on Teck Resources in a report on Tuesday, January 16th. They issued a "buy" rating on the stock. Morgan Stanley reaffirmed an "overweight" rating and issued a $55.00 price objective on shares of Teck Resources in a research note on Thursday. Finally, Benchmark lifted their target price on Teck Resources from $50.00 to $52.00 and gave the company a "buy" rating in a research report on Monday. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Teck Resources presently has an average rating of "Moderate Buy" and a consensus target price of $65.21.

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.