Swedbank AB Acquires 1,020,000 Shares of Teck Resources Ltd $TECK

Swedbank AB raised its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 45.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,243,000 shares of the basic materials company’s stock after purchasing an additional 1,020,000 shares during the period. Swedbank AB owned 0.67% of Teck Resources worth $155,307,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TECK. AQR Capital Management LLC raised its position in shares of Teck Resources by 11.1% in the 1st quarter. AQR Capital Management LLC now owns 34,705 shares of the basic materials company’s stock worth $1,264,000 after acquiring an additional 3,458 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Teck Resources by 453.0% in the 1st quarter. Jones Financial Companies Lllp now owns 9,721 shares of the basic materials company’s stock worth $354,000 after acquiring an additional 7,963 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Teck Resources by 1.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 465,861 shares of the basic materials company’s stock worth $16,971,000 after acquiring an additional 8,146 shares in the last quarter. Marshall Wace LLP raised its position in shares of Teck Resources by 189.3% in the 2nd quarter. Marshall Wace LLP now owns 218,242 shares of the basic materials company’s stock worth $8,813,000 after acquiring an additional 142,816 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of Teck Resources by 4,602.9% in the 2nd quarter. NewEdge Advisors LLC now owns 8,183 shares of the basic materials company’s stock worth $330,000 after acquiring an additional 8,009 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TECK. Wall Street Zen raised Teck Resources to a “buy” rating in a research report on Saturday, May 16th. Benchmark upped their price target on Teck Resources from $48.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a research note on Tuesday, April 14th. Weiss Ratings upgraded Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Teck Resources in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, Teck Resources currently has a consensus rating of “Hold” and an average price target of $59.17.

Teck Resources Stock Down 0.6%

Teck Resources stock opened at $62.59 on Friday. The firm has a market cap of $30.17 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 4.59 and a beta of 0.86. The stock has a fifty day simple moving average of $56.30 and a two-hundred day simple moving average of $51.87. Teck Resources Ltd has a 12 month low of $30.98 and a 12 month high of $67.67. The company has a current ratio of 2.83, a quick ratio of 2.16 and a debt-to-equity ratio of 0.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Thursday, February 19th. The basic materials company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.39. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.28 billion. Teck Resources had a return on equity of 7.94% and a net margin of 14.91%.The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 EPS. Equities analysts predict that Teck Resources Ltd will post 2.68 EPS for the current fiscal year.

Teck Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.8%. Teck Resources’s dividend payout ratio (DPR) is presently 13.55%.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.