Teck Resources Limited (NYSE:TECK) Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lifted its stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 54.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,172,628 shares of the basic materials company's stock after purchasing an additional 412,436 shares during the period. Massachusetts Financial Services Co. MA owned about 0.23% of Teck Resources worth $49,567,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in shares of Teck Resources by 16,855.2% in the 4th quarter. Principal Financial Group Inc. now owns 2,640,100 shares of the basic materials company's stock valued at $112,143,000 after buying an additional 2,624,529 shares during the period. Boston Partners lifted its stake in Teck Resources by 28.8% in the fourth quarter. Boston Partners now owns 10,881,781 shares of the basic materials company's stock worth $484,995,000 after acquiring an additional 2,432,378 shares during the last quarter. Mackenzie Financial Corp grew its holdings in 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 acquiring an additional 2,080,295 shares in the last quarter. PointState Capital LP increased its position in shares of Teck Resources by 546.1% in the 3rd quarter. PointState Capital LP now owns 1,755,731 shares of the basic materials company's stock valued at $75,654,000 after purchasing an additional 1,483,974 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its holdings in shares of 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 purchasing an additional 872,672 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TECK shares. Benchmark boosted their target price on shares of Teck Resources from $50.00 to $52.00 and gave the stock a "buy" rating in a research note on Monday, April 8th. JPMorgan Chase & Co. upped their price objective on Teck Resources from $44.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 17th. Finally, Morgan Stanley reissued an "overweight" rating and set a $55.00 target price on shares of Teck Resources in a research report on Thursday, April 11th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $57.86.

Teck Resources Stock Performance

Shares of NYSE TECK traded up $1.99 during trading hours on Friday, reaching $53.79. The stock had a trading volume of 2,952,646 shares, compared to its average volume of 3,931,345. The firm has a 50-day moving average of $47.46 and a 200-day moving average of $41.67. The firm has a market cap of $27.51 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 11.56 and a beta of 1.12. 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 Limited has a fifty-two week low of $34.38 and a fifty-two week high of $53.84.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.31). The firm had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.99 billion. Teck Resources had a net margin of 10.59% and a return on equity of 7.52%. Equities research analysts predict that Teck Resources Limited will post 2.18 earnings per share for the current year.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be given a dividend of $0.0911 per share. This represents a $0.36 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Monday, June 17th. Teck Resources's payout ratio is currently 16.37%.

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.