Mackenzie Financial Corp Has $280.49 Million Stake in Teck Resources Limited (NYSE:TECK)

Mackenzie Financial Corp boosted its position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 45.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,632,418 shares of the basic materials company's stock after buying an additional 2,080,295 shares during the period. Mackenzie Financial Corp owned 1.30% of Teck Resources worth $280,491,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Baystate Wealth Management LLC purchased a new position in shares of Teck Resources during the third quarter worth about $31,000. Money Concepts Capital Corp purchased a new position in shares of Teck Resources in the 4th quarter valued at approximately $29,000. JFS Wealth Advisors LLC increased its holdings in shares of Teck Resources by 249.0% in the third quarter. JFS Wealth Advisors LLC now owns 841 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 600 shares during the period. Achmea Investment Management B.V. acquired a new stake in shares of Teck Resources during the first quarter worth $37,000. Finally, Covestor Ltd purchased a new stake in shares of Teck Resources in the first quarter valued at about $53,000. Institutional investors and hedge funds own 78.06% of the company's stock.

Teck Resources Stock Down 0.3 %

Shares of TECK stock traded down $0.13 during mid-day trading on Monday, reaching $47.77. 4,178,701 shares of the company were exchanged, compared to its average volume of 3,958,930. The company has a market capitalization of $24.39 billion, a P/E ratio of 13.92, a P/E/G ratio of 6.51 and a beta of 1.15. The business's 50 day simple moving average is $42.07 and its 200 day simple moving average is $39.95. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.60 and a current ratio of 1.10. Teck Resources Limited has a fifty-two week low of $34.38 and a fifty-two week high of $50.46.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.01. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.11 billion. Teck Resources had a net margin of 16.21% and a return on equity of 9.67%. Research analysts predict that Teck Resources Limited will post 3.55 earnings per share for the current year.

Teck Resources Cuts Dividend

The company also recently announced 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 was Thursday, March 14th. This represents a $0.37 annualized dividend and a dividend yield of 0.77%. Teck Resources's payout ratio is 10.79%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TECK. Morgan Stanley reaffirmed an "overweight" rating and set a $55.00 price target on shares of Teck Resources in a research note on Thursday. Benchmark raised their price objective on Teck Resources from $50.00 to $52.00 and gave the company a "buy" rating in a research note on Monday, April 8th. Finally, UBS Group began coverage on Teck Resources in a report on Tuesday, January 16th. They issued a "buy" rating on the stock. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $65.21.

Teck Resources Company 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.