Teck Resources Ltd $TECK Shares Purchased by Swiss National Bank

Swiss National Bank lifted its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 26.8% in the first quarter, HoldingsChannel reports. The firm owned 1,536,979 shares of the basic materials company’s stock after buying an additional 325,000 shares during the period. Swiss National Bank’s holdings in Teck Resources were worth $79,544,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TECK. Temasek Holdings Private Ltd grew its stake in shares of Teck Resources by 1.1% in the 4th quarter. Temasek Holdings Private Ltd now owns 5,307,384 shares of the basic materials company’s stock valued at $254,171,000 after buying an additional 57,380 shares during the period. New York Life Investment Management LLC purchased a new stake in shares of Teck Resources during the 4th quarter valued at approximately $11,014,000. Cardinal Point Capital Management ULC purchased a new stake in shares of Teck Resources during the 4th quarter valued at approximately $379,000. ABN Amro Investment Solutions raised its position in shares of Teck Resources by 156.4% during the 4th quarter. ABN Amro Investment Solutions now owns 510,989 shares of the basic materials company’s stock valued at $24,471,000 after buying an additional 311,694 shares during the period. Finally, Perpetual Ltd acquired a new position in Teck Resources in the fourth quarter valued at approximately $26,838,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TECK has been the subject of several analyst reports. TD Securities reiterated a “hold” rating on shares of Teck Resources in a research report on Friday, April 24th. Veritas lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft increased their price target on Teck Resources from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Scotiabank reissued a “sector perform” rating on shares of Teck Resources in a research report on Monday, June 15th. Finally, Weiss Ratings upgraded shares of Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Five equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $63.00.

Teck Resources Stock Up 4.2%

NYSE:TECK opened at $56.80 on Wednesday. Teck Resources Ltd has a 52 week low of $30.98 and a 52 week high of $71.25. The stock’s fifty day moving average is $61.78 and its two-hundred day moving average is $57.32. The stock has a market capitalization of $27.42 billion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13.

Teck Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.50 annualized dividend and a yield of 0.9%. Teck Resources’s dividend payout ratio is presently 13.19%.

About Teck Resources

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.