Invesco Ltd. Raises Stock Position in Teck Resources Limited (NYSE:TECK)

Invesco Ltd. lifted its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 4.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,711,727 shares of the basic materials company’s stock after buying an additional 347,235 shares during the quarter. Invesco Ltd. owned approximately 1.55% of Teck Resources worth $312,556,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Synergy Asset Management LLC lifted its stake in Teck Resources by 77.7% during the 4th quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company’s stock valued at $685,000 after acquiring an additional 7,387 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Teck Resources in the 3rd quarter worth approximately $1,937,000. FNY Investment Advisers LLC lifted its stake in shares of Teck Resources by 709.5% in the 4th quarter. FNY Investment Advisers LLC now owns 17,000 shares of the basic materials company’s stock worth $689,000 after purchasing an additional 14,900 shares during the period. Toronto Dominion Bank lifted its stake in shares of Teck Resources by 40.1% in the 3rd quarter. Toronto Dominion Bank now owns 903,132 shares of the basic materials company’s stock worth $47,180,000 after purchasing an additional 258,455 shares during the period. Finally, Douglas Lane & Associates LLC increased its holdings in Teck Resources by 10.6% in the 4th quarter. Douglas Lane & Associates LLC now owns 950,612 shares of the basic materials company’s stock worth $38,528,000 after acquiring an additional 91,370 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Up 15.2 %

Teck Resources stock opened at $33.47 on Thursday. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. Teck Resources Limited has a 52 week low of $28.32 and a 52 week high of $55.13. The company has a market capitalization of $16.56 billion, a price-to-earnings ratio of 60.86 and a beta of 0.81. The stock has a 50-day moving average price of $39.69 and a 200 day moving average price of $43.67.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.58 billion. Sell-side analysts anticipate that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.0879 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Friday, March 14th. Teck Resources’s payout ratio is presently 61.82%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TECK. Bank of America increased their price objective on shares of Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday, March 10th. JPMorgan Chase & Co. lowered their target price on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Raymond James lowered their price target on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. National Bankshares reiterated a “sector perform” rating on shares of Teck Resources in a research report on Wednesday, April 2nd. Finally, Desjardins initiated coverage on Teck Resources in a research report on Friday, April 4th. They set a “buy” rating for the company. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.