Teck Resources Limited (NYSE:TECK) Shares Acquired by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC increased its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 11.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,628 shares of the basic materials company’s stock after purchasing an additional 1,061 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Teck Resources were worth $449,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Teck Resources by 1.4% during the third quarter. Vanguard Group Inc. now owns 15,973,504 shares of the basic materials company’s stock worth $688,298,000 after acquiring an additional 224,658 shares during the last quarter. Boston Partners grew its holdings in Teck Resources by 23.3% in the 3rd quarter. Boston Partners now owns 8,449,403 shares of the basic materials company’s stock valued at $384,364,000 after buying an additional 1,596,232 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Teck Resources by 45.7% in 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 during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Teck Resources by 1.6% during the 3rd quarter. CIBC Asset Management Inc now owns 6,214,160 shares of the basic materials company’s stock worth $268,287,000 after acquiring an additional 98,176 shares during the period. Finally, Bank of Nova Scotia boosted its position in shares of Teck Resources by 1.1% during the 3rd quarter. Bank of Nova Scotia now owns 4,018,932 shares of the basic materials company’s stock valued at $172,978,000 after acquiring an additional 44,040 shares during the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TECK has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Morgan Stanley reissued an “overweight” rating and set a $55.00 target price on shares of Teck Resources in a research note on Thursday, April 11th. UBS Group initiated coverage on Teck Resources in a research report on Tuesday, January 16th. They issued a “buy” rating on the stock. Finally, Benchmark increased their price target on Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.80.

Teck Resources Stock Performance

NYSE TECK opened at $45.86 on Tuesday. The company has a market cap of $23.41 billion, a P/E ratio of 13.37, a P/E/G ratio of 6.85 and a beta of 1.15. Teck Resources Limited has a 1-year low of $34.38 and a 1-year high of $50.46. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.10 and a quick ratio of 0.60. The stock has a 50-day moving average of $43.16 and a two-hundred day moving average of $40.21.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.01. The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.11 billion. Teck Resources had a net margin of 16.21% and a return on equity of 9.67%. As a group, analysts anticipate that Teck Resources Limited will post 3.33 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.0925 dividend. This represents a $0.37 annualized dividend and a dividend yield of 0.81%. The ex-dividend date was Thursday, March 14th. Teck Resources’s payout ratio is currently 10.79%.

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.