National Bank of Canada FI Purchases 252,468 Shares of Teck Resources Limited (NYSE:TECK)

National Bank of Canada FI lifted its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 6.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,187,131 shares of the basic materials company's stock after purchasing an additional 252,468 shares during the period. National Bank of Canada FI owned approximately 0.81% of Teck Resources worth $171,599,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wealthsource Partners LLC raised its holdings in Teck Resources by 4.0% during the 3rd quarter. Wealthsource Partners LLC now owns 7,747 shares of the basic materials company's stock worth $334,000 after purchasing an additional 300 shares during the last quarter. Shell Asset Management Co. boosted its stake in Teck Resources by 2.9% in the third quarter. Shell Asset Management Co. now owns 13,649 shares of the basic materials company's stock valued at $590,000 after acquiring an additional 386 shares during the last quarter. Allworth Financial LP grew its holdings in Teck Resources by 17.9% during the 3rd quarter. Allworth Financial LP now owns 2,558 shares of the basic materials company's stock worth $110,000 after acquiring an additional 388 shares during the period. Cigna Investments Inc. New grew its holdings in Teck Resources by 4.6% during the 4th quarter. Cigna Investments Inc. New now owns 8,800 shares of the basic materials company's stock worth $374,000 after acquiring an additional 391 shares during the period. Finally, FDx Advisors Inc. raised its position in shares of Teck Resources by 1.7% during the 3rd quarter. FDx Advisors Inc. now owns 24,223 shares of the basic materials company's stock valued at $1,044,000 after acquiring an additional 396 shares during the last quarter. 78.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Teck Resources Stock Up 1.7 %

TECK traded up $0.84 on Friday, hitting $49.29. 2,689,323 shares of the company were exchanged, compared to its average volume of 4,653,079. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.49. The stock's fifty day moving average is $45.01 and its 200-day moving average is $40.72. The company has a market cap of $25.22 billion, a PE ratio of 21.81, a PEG ratio of 8.76 and a beta of 1.12. Teck Resources Limited has a 12 month low of $34.38 and a 12 month high of $51.65.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $1.02 EPS for the quarter, beating 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 return on equity of 7.52% and a net margin of 10.59%. Equities research analysts predict that Teck Resources Limited will post 2.67 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be paid a dividend of $0.0911 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.36 annualized dividend and a dividend yield of 0.74%. Teck Resources's dividend payout ratio is currently 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.