353,905 Shares in Teck Resources Limited (NYSE:TECK) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 353,905 shares of the basic materials company's stock, valued at approximately $14,344,000. Raymond James Financial Inc. owned approximately 0.07% of Teck Resources as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new stake in Teck Resources in the fourth quarter valued at about $25,000. Global Trust Asset Management LLC acquired a new position in shares of Teck Resources in the 4th quarter worth approximately $27,000. FPC Investment Advisory Inc. bought a new position in shares of Teck Resources during the 4th quarter worth approximately $27,000. Community Bank N.A. acquired a new stake in Teck Resources in the 4th quarter valued at $33,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Teck Resources in the third quarter valued at $40,000. 78.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TECK shares. Desjardins began coverage on shares of Teck Resources in a research note on Friday, April 4th. They issued a "buy" rating on the stock. Veritas upgraded shares of Teck Resources to a "hold" rating in a research report on Friday, April 11th. BMO Capital Markets began coverage on shares of Teck Resources in a report on Wednesday, April 16th. They set an "outperform" rating for the company. Bank of America boosted their target price on Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Finally, UBS Group reaffirmed a "neutral" rating on shares of Teck Resources in a report on Tuesday, April 15th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $64.11.

Teck Resources Trading Down 1.6 %

NYSE:TECK traded down $0.59 during mid-day trading on Friday, hitting $35.65. The company had a trading volume of 3,668,027 shares, compared to its average volume of 3,148,388. Teck Resources Limited has a fifty-two week low of $28.32 and a fifty-two week high of $55.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The firm has a market cap of $17.57 billion, a P/E ratio of 64.82 and a beta of 0.81. The business's fifty day moving average is $37.56 and its two-hundred day moving average is $42.25.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.18. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The business had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $2.19 billion. As a group, research analysts expect that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a dividend of $0.0901 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.01%. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Monday, June 16th. Teck Resources's dividend payout ratio (DPR) is presently 61.82%.

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.