AMF Tjanstepension AB boosted its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 32.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,020,023 shares of the basic materials company's stock after acquiring an additional 1,467,516 shares during the quarter. Teck Resources comprises about 1.7% of AMF Tjanstepension AB's investment portfolio, making the stock its 20th biggest position. AMF Tjanstepension AB owned 1.21% of Teck Resources worth $244,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TECK. PNC Financial Services Group Inc. raised its stake in shares of Teck Resources by 2.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the basic materials company's stock valued at $471,000 after acquiring an additional 243 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. grew its holdings in Teck Resources by 2.0% during the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 174,703 shares of the basic materials company's stock valued at $7,074,000 after purchasing an additional 3,370 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Teck Resources in the 4th quarter worth about $14,344,000. Aigen Investment Management LP bought a new stake in Teck Resources in the fourth quarter worth about $1,199,000. Finally, Assetmark Inc. boosted its position in shares of Teck Resources by 6.6% during the fourth quarter. Assetmark Inc. now owns 19,474 shares of the basic materials company's stock valued at $789,000 after buying an additional 1,211 shares during the period. 78.06% of the stock is currently owned by hedge funds and other institutional investors.
NYSE TECK opened at $39.79 on Friday. Teck Resources Limited has a one year low of $37.75 and a one year 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. The company has a market capitalization of $19.76 billion, a price-to-earnings ratio of 72.34 and a beta of 0.93. The company's 50-day simple moving average is $41.82 and its two-hundred day simple moving average is $45.35.
Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.07. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. Equities analysts forecast that Teck Resources Limited will post 1.53 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.0879 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources's dividend payout ratio (DPR) is currently 61.82%.
Several brokerages have recently weighed in on TECK. National Bank Financial downgraded Teck Resources from an "outperform" rating to a "sector perform" rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. decreased their target price on Teck Resources from $55.00 to $51.00 and set an "overweight" rating for the company in a research report on Thursday, January 16th. Raymond James cut their price target on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, January 22nd. Finally, UBS Group lowered shares of Teck Resources from a "buy" rating to a "neutral" rating in a report on Monday, November 11th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $65.38.
Get Our Latest Stock Report on 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.
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