Temasek Holdings Private Ltd Has $44.51 Million Holdings in Teck Resources Limited (NYSE:TECK)

Temasek Holdings Private Ltd increased its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 15.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,098,200 shares of the basic materials company’s stock after purchasing an additional 143,412 shares during the quarter. Temasek Holdings Private Ltd owned 0.22% of Teck Resources worth $44,510,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Teck Resources by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company’s stock valued at $783,153,000 after buying an additional 58,985 shares in the last quarter. Amundi increased its stake in Teck Resources by 5.6% in the fourth quarter. Amundi now owns 14,949,233 shares of the basic materials company’s stock valued at $619,765,000 after acquiring an additional 791,725 shares during the last quarter. Norges Bank acquired a new position in Teck Resources during the fourth quarter valued at approximately $470,101,000. Invesco Ltd. raised its position in Teck Resources by 4.7% during the fourth quarter. Invesco Ltd. now owns 7,711,727 shares of the basic materials company’s stock valued at $312,556,000 after purchasing an additional 347,235 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Teck Resources by 2.0% during the fourth quarter. CIBC Asset Management Inc now owns 6,623,228 shares of the basic materials company’s stock worth $269,956,000 after purchasing an additional 127,348 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Down 2.3%

Shares of NYSE TECK opened at $35.65 on Friday. The firm has a 50 day moving average price of $36.10 and a two-hundred day moving average price of $40.78. The stock has a market cap of $17.57 billion, a P/E ratio of 64.82 and a beta of 0.79. Teck Resources Limited has a 52-week low of $28.32 and a 52-week high of $55.13. 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 (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.18. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $2.19 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. Teck Resources’s quarterly revenue was up 41.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. As a group, equities analysts forecast that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.0901 dividend. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.36 annualized dividend and a dividend yield of 1.01%. Teck Resources’s dividend payout ratio is presently 58.62%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TECK shares. National Bank Financial upgraded Teck Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 24th. BMO Capital Markets initiated coverage on Teck Resources in a research report on Wednesday, April 16th. They issued an “outperform” rating on the stock. National Bankshares raised Teck Resources from a “sector perform” rating to an “outperform” rating in a research note on Thursday, April 24th. Raymond James dropped their target price on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. Finally, Bank of America raised their price target on shares of Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Teck Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.11.

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.