Farrow Financial Inc. Purchases New Shares in Teck Resources Limited (NYSE:TECK)

Farrow Financial Inc. acquired a new stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 46,063 shares of the basic materials company's stock, valued at approximately $1,947,000. Teck Resources makes up about 1.5% of Farrow Financial Inc.'s holdings, making the stock its 28th biggest position.

Several other large investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in shares of Teck Resources by 16,855.2% during the fourth quarter. Principal Financial Group Inc. now owns 2,640,100 shares of the basic materials company's stock valued at $112,143,000 after acquiring an additional 2,624,529 shares during the period. Boston Partners grew its holdings in shares of Teck Resources by 28.8% during the fourth quarter. Boston Partners now owns 10,881,781 shares of the basic materials company's stock worth $484,995,000 after purchasing an additional 2,432,378 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of Teck Resources by 45.7% in the fourth quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company's stock valued at $280,491,000 after buying an additional 2,080,295 shares in the last quarter. PointState Capital LP raised its holdings in shares of Teck Resources by 546.1% in the third quarter. PointState Capital LP now owns 1,755,731 shares of the basic materials company's stock valued at $75,654,000 after buying an additional 1,483,974 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its position in Teck Resources by 273.5% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,191,700 shares of the basic materials company's stock valued at $51,350,000 after acquiring an additional 872,672 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Trading Down 0.6 %

TECK stock traded down $0.30 during mid-day trading on Thursday, reaching $51.83. The company's stock had a trading volume of 2,672,130 shares, compared to its average volume of 3,941,643. The company has a market cap of $26.51 billion, a price-to-earnings ratio of 22.93, a price-to-earnings-growth ratio of 11.41 and a beta of 1.12. Teck Resources Limited has a 12 month low of $34.38 and a 12 month high of $53.03. The business's 50 day moving average price is $47.21 and its 200 day moving average price is $41.54. The company has a current ratio of 1.49, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $1.02 EPS for the quarter, topping the consensus estimate of $1.01 by $0.01. The firm 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%. On average, equities research analysts predict that Teck Resources Limited will post 2.18 EPS for the current year.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be given a dividend of $0.0911 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.70%. Teck Resources's dividend payout ratio (DPR) is currently 15.93%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Benchmark raised their price target on Teck Resources from $50.00 to $52.00 and gave the stock a "buy" rating in a research report on Monday, April 8th. JPMorgan Chase & Co. upped their price objective 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. Finally, Morgan Stanley restated an "overweight" rating and issued a $55.00 price target on shares of Teck Resources in a report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $57.86.

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.

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