Russell Investments Group Ltd. Grows Holdings in Teck Resources Limited (NYSE:TECK)

Russell Investments Group Ltd. lifted its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 52.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 417,857 shares of the basic materials company's stock after purchasing an additional 143,831 shares during the period. Russell Investments Group Ltd. owned approximately 0.08% of Teck Resources worth $17,748,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TECK. Ninety One SA PTY Ltd raised its stake in shares of Teck Resources by 45.1% during the 4th quarter. Ninety One SA PTY Ltd now owns 147,093 shares of the basic materials company's stock worth $6,236,000 after purchasing an additional 45,750 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Teck Resources by 45.7% during the 4th quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company's stock worth $280,491,000 after purchasing an additional 2,080,295 shares during the period. Douglas Lane & Associates LLC raised its stake in shares of Teck Resources by 54.3% in the fourth quarter. Douglas Lane & Associates LLC now owns 663,366 shares of the basic materials company's stock valued at $28,040,000 after purchasing an additional 233,361 shares in the last quarter. Pantechnicon Advisors LLP raised its stake in shares of Teck Resources by 40.1% in the 3rd quarter. Pantechnicon Advisors LLP now owns 465,000 shares of the basic materials company's stock valued at $20,037,000 after buying an additional 133,000 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Teck Resources by 4.6% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 120,841 shares of the basic materials company's stock valued at $5,191,000 after acquiring an additional 5,304 shares in the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Morgan Stanley reissued an "overweight" rating and set a $55.00 price target on shares of Teck Resources in a report on Thursday, April 11th. Benchmark lifted their target price on Teck Resources from $50.00 to $52.00 and gave the company a "buy" rating in a research note on Monday, April 8th. JPMorgan Chase & Co. boosted their price objective on Teck Resources from $44.00 to $50.00 and gave the stock an "overweight" rating in a report on Wednesday, April 17th. Finally, UBS Group began coverage on shares of Teck Resources in a research note on Tuesday, January 16th. They set a "buy" rating for the company. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Teck Resources has an average rating of "Moderate Buy" and an average price target of $57.86.

Teck Resources Stock Performance

Shares of TECK traded up $0.84 during trading hours on Friday, hitting $49.29. The company had a trading volume of 2,686,359 shares, compared to its average volume of 4,051,439. The firm has a market cap of $25.22 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 8.76 and a beta of 1.12. The company has a quick ratio of 0.86, a current ratio of 1.49 and a debt-to-equity ratio of 0.20. Teck Resources Limited has a 12 month low of $34.38 and a 12 month high of $51.65. The business has a fifty day moving average of $44.82 and a 200-day moving average of $40.66.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its 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. Teck Resources had a net margin of 10.59% and a return on equity of 7.52%. The company had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $3.11 billion. Equities analysts anticipate that Teck Resources Limited will post 2.67 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be issued a $0.0911 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.36 dividend on an annualized basis and a yield of 0.74%. Teck Resources's payout ratio is 16.37%.

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.