MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stock Position in Teck Resources Limited (NYSE:TECK)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,948,924 shares of the basic materials company’s stock after buying an additional 79,396 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.59% of Teck Resources worth $119,499,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TECK. Norges Bank purchased a new stake in shares of Teck Resources during the 4th quarter worth $470,101,000. Swedbank AB purchased a new stake in shares of Teck Resources during the 4th quarter worth $103,878,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Teck Resources during the 4th quarter worth $65,197,000. AMF Tjanstepension AB boosted its position in shares of Teck Resources by 32.2% during the 4th quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company’s stock worth $244,252,000 after purchasing an additional 1,467,516 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Teck Resources by 29.7% during the 4th quarter. FMR LLC now owns 4,715,144 shares of the basic materials company’s stock worth $191,133,000 after purchasing an additional 1,080,714 shares in the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on TECK. BMO Capital Markets began coverage on shares of Teck Resources in a research report on Wednesday, April 16th. They set an “outperform” rating on the stock. UBS Group restated a “neutral” rating on shares of Teck Resources in a research report on Tuesday, April 15th. National Bank Financial raised shares of Teck Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 24th. Veritas raised shares of Teck Resources to a “hold” rating in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Teck Resources from $50.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Teck Resources has a consensus rating of “Moderate Buy” and a consensus target price of $64.11.

Teck Resources Price Performance

Shares of TECK opened at $35.81 on Monday. The firm has a market capitalization of $17.64 billion, a price-to-earnings ratio of 65.11 and a beta of 0.79. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. Teck Resources Limited has a one year low of $28.32 and a one year high of $55.13. The stock’s fifty day moving average is $36.36 and its 200-day moving average is $41.10.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.18. The company had revenue of $1.60 billion for 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 quarterly revenue was up 41.4% compared to the same quarter last year. During the same period last year, the company earned $0.75 earnings per share. Equities analysts anticipate that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.0901 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.01%. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, June 16th. Teck Resources’s dividend payout ratio (DPR) is 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.