Forsta AP Fonden Has $3.59 Million Position in Teck Resources Ltd $TECK

Forsta AP Fonden lessened its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 9.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,000 shares of the basic materials company’s stock after selling 9,600 shares during the period. Forsta AP Fonden’s holdings in Teck Resources were worth $3,592,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Atria Investments Inc lifted its holdings in shares of Teck Resources by 27.1% during the second quarter. Atria Investments Inc now owns 33,303 shares of the basic materials company’s stock worth $1,345,000 after buying an additional 7,095 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Teck Resources by 20.9% in the first quarter. Cetera Investment Advisers now owns 69,885 shares of the basic materials company’s stock worth $2,546,000 after acquiring an additional 12,092 shares during the last quarter. Wellington Management Group LLP increased its position in Teck Resources by 1,611.2% during the first quarter. Wellington Management Group LLP now owns 751,146 shares of the basic materials company’s stock worth $27,358,000 after acquiring an additional 707,249 shares during the period. PNC Financial Services Group Inc. increased its position in Teck Resources by 9.0% during the first quarter. PNC Financial Services Group Inc. now owns 12,674 shares of the basic materials company’s stock worth $462,000 after acquiring an additional 1,042 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Teck Resources by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,455,546 shares of the basic materials company’s stock valued at $53,014,000 after purchasing an additional 40,010 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. CIBC lowered shares of Teck Resources from a “sector outperform” rating to a “neutral” rating in a research report on Friday, July 25th. B. Riley downgraded Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Royal Bank Of Canada lowered their price target on Teck Resources from $82.00 to $67.00 and set an “outperform” rating on the stock in a research note on Friday, July 25th. Wall Street Zen upgraded Teck Resources from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Citigroup restated a “neutral” rating on shares of Teck Resources in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $54.00.

Teck Resources Trading Down 1.8%

TECK stock opened at $41.12 on Friday. Teck Resources Ltd has a 1-year low of $28.32 and a 1-year high of $48.47. The company has a current ratio of 2.78, a quick ratio of 2.08 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $41.98 and its 200-day moving average is $38.15. The firm has a market cap of $19.76 billion, a P/E ratio of 23.10, a P/E/G ratio of 0.74 and a beta of 0.90.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.39 by $0.16. Teck Resources had a return on equity of 4.14% and a net margin of 11.93%.The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter last year, the company earned $0.60 EPS. Teck Resources’s revenue was up 18.4% on a year-over-year basis. Equities analysts anticipate that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a $0.125 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.50 annualized dividend and a dividend yield of 1.2%. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio is presently 19.66%.

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.