AMF Tjanstepension AB Acquires 169,476 Shares of Teck Resources Limited (NYSE:TECK)

AMF Tjanstepension AB boosted its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 3.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,552,507 shares of the basic materials company’s stock after acquiring an additional 169,476 shares during the period. Teck Resources makes up approximately 1.7% of AMF Tjanstepension AB’s investment portfolio, making the stock its 17th largest holding. AMF Tjanstepension AB owned 0.89% of Teck Resources worth $238,055,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV increased its position in Teck Resources by 69.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after buying an additional 409 shares during the last quarter. Centaurus Financial Inc. bought a new stake in shares of Teck Resources in the second quarter valued at approximately $465,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Teck Resources during the second quarter valued at approximately $1,288,000. Sanctuary Advisors LLC acquired a new position in Teck Resources during the second quarter valued at approximately $540,000. Finally, Clearbridge Investments LLC raised its position in Teck Resources by 2.7% during the second quarter. Clearbridge Investments LLC now owns 1,065,704 shares of the basic materials company’s stock valued at $51,047,000 after purchasing an additional 28,243 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Morgan Stanley upped their target price on Teck Resources from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, June 21st. Paradigm Capital raised Teck Resources to a “moderate buy” rating in a research report on Friday, July 26th. StockNews.com downgraded Teck Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, September 25th. TD Securities upgraded Teck Resources to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, JPMorgan Chase & Co. cut their target price on Teck Resources from $56.00 to $54.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $65.00.

Teck Resources Trading Up 1.0 %

NYSE TECK opened at $52.38 on Thursday. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. Teck Resources Limited has a twelve month low of $34.38 and a twelve month high of $55.13. The firm has a market capitalization of $26.76 billion, a PE ratio of 23.18 and a beta of 1.02. The stock’s 50 day moving average is $47.56 and its 200 day moving average is $48.20.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.32. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the previous year, the company posted $0.91 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. Research analysts forecast that Teck Resources Limited will post 1.98 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend was Friday, September 13th. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio is 16.37%.

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.