Teck Resources Limited (NYSE:TECK) Stock Holdings Boosted by CoreCommodity Management LLC

CoreCommodity Management LLC lifted its holdings in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 883.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 120,631 shares of the basic materials company's stock after buying an additional 108,371 shares during the quarter. Teck Resources makes up about 1.0% of CoreCommodity Management LLC's portfolio, making the stock its 10th biggest position. CoreCommodity Management LLC's holdings in Teck Resources were worth $4,889,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Teck Resources by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company's stock worth $783,153,000 after acquiring an additional 58,985 shares during the period. Amundi increased its stake in Teck Resources by 5.6% during the 4th quarter. Amundi now owns 14,949,233 shares of the basic materials company's stock worth $619,765,000 after buying an additional 791,725 shares in the last quarter. Norges Bank purchased a new stake in shares of Teck Resources in the fourth quarter valued at approximately $470,101,000. Invesco Ltd. grew its position in shares of Teck Resources by 4.7% in the fourth quarter. Invesco Ltd. now owns 7,711,727 shares of the basic materials company's stock valued at $312,556,000 after purchasing an additional 347,235 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Teck Resources by 21.7% in the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock valued at $388,507,000 after purchasing an additional 1,326,241 shares in the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TECK has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price target on Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. UBS Group reaffirmed a "neutral" rating on shares of Teck Resources in a report on Tuesday, April 15th. Raymond James lowered their price target on Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, January 22nd. BMO Capital Markets assumed coverage on Teck Resources in a report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Finally, Desjardins started coverage on shares of Teck Resources in a research report on Friday, April 4th. They set a "buy" rating for the company. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $64.11.

Teck Resources Stock Up 6.7%

Shares of Teck Resources stock traded up $2.40 on Monday, hitting $38.13. The company had a trading volume of 3,207,123 shares, compared to its average volume of 3,127,530. The firm has a market capitalization of $18.79 billion, a P/E ratio of 69.38 and a beta of 0.79. Teck Resources Limited has a twelve month low of $28.32 and a twelve month high of $55.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The stock has a 50-day moving average of $36.36 and a 200-day moving average of $41.10.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its earnings results on Thursday, April 24th. The basic materials company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.24 by $0.18. The business had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $2.19 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The firm's revenue was up 41.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 earnings per share. Research analysts predict that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.0901 dividend. The ex-dividend date is Monday, June 16th. This is an increase from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.36 annualized dividend and a dividend yield of 0.94%. Teck Resources's dividend payout ratio is 58.62%.

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.