Foundation Resource Management Inc. decreased its holdings in shares of Teck Resources Ltd (NYSE:TECK – Free Report) (TSE:TECK) by 5.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 842,239 shares of the basic materials company’s stock after selling 47,694 shares during the period. Teck Resources comprises about 4.6% of Foundation Resource Management Inc.’s portfolio, making the stock its 5th largest holding. Foundation Resource Management Inc. owned approximately 0.17% of Teck Resources worth $55,411,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. HBK Investments L P raised its holdings in shares of Teck Resources by 264.2% during the second quarter. HBK Investments L P now owns 5,773,121 shares of the basic materials company’s stock worth $343,270,000 after purchasing an additional 4,188,029 shares during the period. Principal Financial Group Inc. lifted its position in shares of Teck Resources by 17.1% in the 1st quarter. Principal Financial Group Inc. now owns 22,044,284 shares of the basic materials company’s stock worth $1,139,051,000 after buying an additional 3,211,985 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Teck Resources by 48.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,270,386 shares of the basic materials company’s stock valued at $272,955,000 after buying an additional 1,720,066 shares during the period. Amundi boosted its holdings in shares of Teck Resources by 71.0% in the 1st quarter. Amundi now owns 1,424,706 shares of the basic materials company’s stock valued at $73,729,000 after buying an additional 591,600 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Teck Resources by 161.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 885,158 shares of the basic materials company’s stock valued at $45,817,000 after buying an additional 546,394 shares during the period. Institutional investors own 78.06% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on TECK. Deutsche Bank Aktiengesellschaft raised 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. JPMorgan Chase & Co. upped their price objective on Teck Resources from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th. Weiss Ratings upgraded Teck Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Wall Street Zen lowered Teck Resources from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 26th. Finally, Raymond James Financial raised Teck Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 23rd. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.25.
Check Out Our Latest Analysis on Teck Resources
Teck Resources Price Performance
Teck Resources stock traded down $1.18 during trading hours on Monday, hitting $63.44. 3,510,619 shares of the company traded hands, compared to its average volume of 3,531,423. The firm has a market cap of $30.65 billion, a P/E ratio of 17.19, a P/E/G ratio of 2.08 and a beta of 1.01. The company has a quick ratio of 2.33, a current ratio of 3.12 and a debt-to-equity ratio of 0.12. The firm’s 50-day simple moving average is $66.93 and its two-hundred day simple moving average is $62.78. Teck Resources Ltd has a 1-year low of $38.00 and a 1-year high of $72.56.
Teck Resources (NYSE:TECK – Get Free Report) (TSE:TECK) last released its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.40. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.38 billion. Teck Resources had a net margin of 17.85% and a return on equity of 10.42%. Teck Resources’s revenue was up 78.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS. As a group, analysts forecast that Teck Resources Ltd will post 4.28 earnings per share for the current fiscal year.
Teck Resources Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were paid a dividend of C$0.12 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, September 15th. Teck Resources’s dividend payout ratio (DPR) is currently 9.76%.
Teck Resources Company Profile
Teck Resources Limited is a Canadian mining and mineral development company focused primarily on copper and zinc, commodities used in electrification, infrastructure, manufacturing and other industrial applications. The company explores for, develops and operates mines, mineral processing facilities and related infrastructure.
Teck’s copper assets include Highland Valley Copper in British Columbia, Canada; Carmen de Andacollo in Chile; and Quebrada Blanca in northern Chile. Its zinc operations include the Red Dog mine in Alaska and the Trail Operations metallurgical complex in British Columbia, which produces refined metals, alloys and other related products.
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