Teck Resources Limited (NYSE:TECK) Holdings Lifted by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,948,924 shares of the basic materials company’s stock after purchasing an additional 79,396 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Teck Resources were worth $119,499,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Hudson Bay Capital Management LP boosted its position in shares of Teck Resources by 72.7% in the 4th quarter. Hudson Bay Capital Management LP now owns 95,000 shares of the basic materials company’s stock valued at $3,850,000 after purchasing an additional 40,000 shares during the period. Gotham Asset Management LLC boosted its position in shares of Teck Resources by 656.1% in the 4th quarter. Gotham Asset Management LLC now owns 100,696 shares of the basic materials company’s stock valued at $4,081,000 after purchasing an additional 87,379 shares during the period. Deutsche Bank AG boosted its position in shares of Teck Resources by 16.2% in the 4th quarter. Deutsche Bank AG now owns 1,600,483 shares of the basic materials company’s stock valued at $64,868,000 after purchasing an additional 222,918 shares during the period. D. E. Shaw & Co. Inc. boosted its position in shares of Teck Resources by 18.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 5,882,044 shares of the basic materials company’s stock valued at $238,381,000 after purchasing an additional 932,058 shares during the period. Finally, Drummond Knight Asset Management Pty Ltd acquired a new position in shares of Teck Resources in the 4th quarter valued at $19,252,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

TECK has been the subject of a number of recent analyst reports. UBS Group reiterated a “neutral” rating on shares of Teck Resources in a research report on Tuesday, April 15th. BMO Capital Markets initiated coverage on Teck Resources in a research report on Wednesday, April 16th. They set an “outperform” rating for the company. National Bankshares upgraded Teck Resources from a “sector perform” rating to an “outperform” rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price objective on Teck Resources from $50.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Finally, Raymond James decreased their price objective on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. Six analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Teck Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.11.

Teck Resources Stock Up 3.2%

TECK opened at $35.81 on Monday. Teck Resources Limited has a fifty-two week low of $28.32 and a fifty-two week high of $55.13. The business has a 50-day moving average of $36.36 and a 200-day moving average of $41.10. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The company has a market capitalization of $17.64 billion, a PE ratio of 65.11 and a beta of 0.79.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued 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. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period last year, the business earned $0.75 EPS. The firm’s revenue was up 41.4% compared to the same quarter last year. Equities research analysts forecast that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $0.0901 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.36 dividend on an annualized basis and a yield of 1.01%. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio (DPR) is 58.62%.

About Teck Resources

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.