PNC Financial Services Group Inc. Has $471,000 Stock Position in Teck Resources Limited (NYSE:TECK)

PNC Financial Services Group Inc. grew its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 11,632 shares of the basic materials company’s stock after buying an additional 243 shares during the period. PNC Financial Services Group Inc.’s holdings in Teck Resources were worth $471,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in shares of Teck Resources by 21.7% in the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock worth $388,507,000 after purchasing an additional 1,326,241 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Teck Resources by 2.0% in the 4th quarter. CIBC Asset Management Inc now owns 6,623,228 shares of the basic materials company’s stock worth $269,956,000 after purchasing an additional 127,348 shares during the last quarter. FMR LLC boosted its position in shares of Teck Resources by 72.8% in the 3rd quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock worth $189,848,000 after purchasing an additional 1,531,563 shares during the last quarter. Swedbank AB bought a new position in shares of Teck Resources in the 4th quarter worth $103,878,000. Finally, Groupama Asset Managment boosted its position in shares of Teck Resources by 6.7% in the 3rd quarter. Groupama Asset Managment now owns 2,319,624 shares of the basic materials company’s stock worth $121,177,000 after purchasing an additional 144,889 shares during the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. reduced their price target on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Raymond James reduced their target price on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. Finally, Bank of America lifted their target price on Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.22.

Teck Resources Stock Performance

Shares of Teck Resources stock opened at $42.69 on Thursday. The firm has a market cap of $21.20 billion, a price-to-earnings ratio of 77.61 and a beta of 0.93. The stock’s 50-day moving average is $41.78 and its 200-day moving average is $44.84. Teck Resources Limited has a one year low of $36.54 and a one year high of $55.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 4.59% and a net margin of 2.96%. Equities analysts predict that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.0879 per share. The ex-dividend date is Friday, March 14th. This represents a $0.35 annualized dividend and a yield of 0.82%. Teck Resources’s payout ratio is presently 61.82%.

Teck Resources Profile

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.