Teck Resources Limited (NYSE:TECK) Shares Acquired by TD Private Client Wealth LLC

TD Private Client Wealth LLC increased its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 7.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 20,921 shares of the basic materials company’s stock after purchasing an additional 1,536 shares during the period. TD Private Client Wealth LLC’s holdings in Teck Resources were worth $848,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in Teck Resources by 21.7% during the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock worth $388,507,000 after purchasing an additional 1,326,241 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Teck Resources by 14.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,394,120 shares of the basic materials company’s stock valued at $72,893,000 after purchasing an additional 173,130 shares during the period. Camden National Bank purchased a new stake in shares of Teck Resources in the third quarter valued at about $251,000. Cerity Partners LLC boosted its stake in shares of Teck Resources by 374.7% during the third quarter. Cerity Partners LLC now owns 39,625 shares of the basic materials company’s stock worth $2,070,000 after buying an additional 31,278 shares during the period. Finally, FMR LLC grew its holdings in shares of Teck Resources by 72.8% during the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock worth $189,848,000 after buying an additional 1,531,563 shares during the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Stock Performance

NYSE:TECK opened at $41.53 on Monday. The firm’s fifty day simple moving average is $41.79 and its 200-day simple moving average is $44.78. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The stock has a market cap of $20.90 billion, a PE ratio of 75.50 and a beta of 0.93. Teck Resources Limited has a fifty-two week low of $36.54 and a fifty-two week high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.58 billion. Analysts expect that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.0879 dividend. This represents a $0.35 annualized dividend and a yield of 0.85%. The ex-dividend date is Friday, March 14th. Teck Resources’s payout ratio is currently 61.82%.

Wall Street Analyst Weigh In

Several research firms have commented on TECK. JPMorgan Chase & Co. reduced their price objective on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Bank of America upped their price target on Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. National Bank Financial lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Finally, Raymond James cut their price objective on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Teck Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.22.

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.