Deutsche Bank AG Purchases 222,918 Shares of Teck Resources Limited (NYSE:TECK)

Deutsche Bank AG lifted its holdings in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 16.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,600,483 shares of the basic materials company's stock after buying an additional 222,918 shares during the period. Deutsche Bank AG owned approximately 0.32% of Teck Resources worth $64,868,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TECK. Vanguard Group Inc. raised its position in shares of 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 buying an additional 58,985 shares in the last quarter. Amundi increased its stake in shares of Teck Resources by 5.6% during the fourth quarter. Amundi now owns 14,949,233 shares of the basic materials company's stock valued at $619,765,000 after acquiring an additional 791,725 shares during the period. Norges Bank bought a new stake in Teck Resources during the fourth quarter worth approximately $470,101,000. Invesco Ltd. lifted its position in Teck Resources by 4.7% in the fourth quarter. Invesco Ltd. now owns 7,711,727 shares of the basic materials company's stock worth $312,556,000 after purchasing an additional 347,235 shares during the period. Finally, CIBC Asset Management Inc lifted its position in Teck Resources by 2.0% in the fourth quarter. CIBC Asset Management Inc now owns 6,623,228 shares of the basic materials company's stock worth $269,956,000 after purchasing an additional 127,348 shares during the period. 78.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. National Bankshares upgraded Teck Resources from a "sector perform" rating to an "outperform" rating in a research report on Thursday, April 24th. Veritas raised Teck Resources to a "hold" rating in a report on Friday, April 11th. UBS Group reiterated a "neutral" rating on shares of Teck Resources in a research report on Tuesday, April 15th. JPMorgan Chase & Co. cut their price target on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Finally, Bank of America lifted their price objective on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.11.

Teck Resources Trading Down 2.3%

Shares of NYSE:TECK traded down $0.84 during mid-day trading on Friday, hitting $35.65. The stock had a trading volume of 4,969,400 shares, compared to its average volume of 3,161,549. The company's 50 day moving average is $36.16 and its 200-day moving average is $40.90. Teck Resources Limited has a 12-month low of $28.32 and a 12-month 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 company has a market cap of $17.57 billion, a PE ratio of 64.82 and a beta of 0.79.

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

Teck Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $0.0901 dividend. This represents a $0.36 annualized dividend and a yield of 1.01%. The ex-dividend date is Monday, June 16th. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio is currently 58.62%.

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.