Leonteq Securities AG acquired a new stake in shares of Teck Resources Ltd (NYSE:TECK – Free Report) (TSE:TECK) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 9,077 shares of the basic materials company’s stock, valued at approximately $435,000.
Several other institutional investors also recently made changes to their positions in TECK. Principal Financial Group Inc. grew its stake in shares of Teck Resources by 36.1% during the 3rd quarter. Principal Financial Group Inc. now owns 16,879,229 shares of the basic materials company’s stock valued at $740,604,000 after buying an additional 4,474,637 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Teck Resources by 264.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,781,060 shares of the basic materials company’s stock valued at $253,695,000 after acquiring an additional 4,194,868 shares in the last quarter. Pentwater Capital Management LP lifted its holdings in shares of Teck Resources by 7,150.0% during the 3rd quarter. Pentwater Capital Management LP now owns 2,900,000 shares of the basic materials company’s stock valued at $127,281,000 after acquiring an additional 2,860,000 shares in the last quarter. Maple Rock Capital Partners Inc. acquired a new position in shares of Teck Resources during the 3rd quarter valued at $88,601,000. Finally, Temasek Holdings Private Ltd lifted its holdings in shares of Teck Resources by 47.2% during the 3rd quarter. Temasek Holdings Private Ltd now owns 5,250,004 shares of the basic materials company’s stock valued at $230,423,000 after acquiring an additional 1,682,625 shares in the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.
Teck Resources Stock Performance
Shares of TECK stock opened at $62.59 on Friday. Teck Resources Ltd has a 12 month low of $30.98 and a 12 month high of $67.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16. The firm has a market capitalization of $30.17 billion, a P/E ratio of 22.93, a P/E/G ratio of 4.59 and a beta of 0.86. The company’s fifty day moving average price is $56.30 and its two-hundred day moving average price is $51.87.
Teck Resources Announces Dividend
The company also recently disclosed 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 is Monday, June 15th. This represents a $0.50 dividend on an annualized basis and a yield of 0.8%. Teck Resources’s payout ratio is currently 13.55%.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the stock. TD Securities restated a “hold” rating on shares of Teck Resources in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Teck Resources in a report on Friday, May 15th. Zacks Research lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Weiss Ratings upgraded shares of Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Finally, UBS Group restated a “buy” rating on shares of Teck Resources in a report on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Teck Resources presently has an average rating of “Hold” and an average price target of $59.17.
Check Out Our Latest Stock Report on Teck Resources
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.
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