Teck Resources Limited (NYSE:TECK) Shares Acquired by Fmr LLC

Fmr LLC increased its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 72.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,634,430 shares of the basic materials company’s stock after purchasing an additional 1,531,563 shares during the quarter. Fmr LLC’s holdings in Teck Resources were worth $189,848,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Daymark Wealth Partners LLC boosted its holdings in shares of Teck Resources by 2.8% in the third quarter. Daymark Wealth Partners LLC now owns 8,774 shares of the basic materials company’s stock valued at $458,000 after acquiring an additional 242 shares during the period. Cigna Investments Inc. New grew its stake in shares of Teck Resources by 3.8% in the 2nd quarter. Cigna Investments Inc. New now owns 8,762 shares of the basic materials company’s stock valued at $420,000 after purchasing an additional 317 shares during the last quarter. Candriam S.C.A. increased its holdings in shares of Teck Resources by 4.0% in the second quarter. Candriam S.C.A. now owns 8,897 shares of the basic materials company’s stock valued at $426,000 after purchasing an additional 343 shares during the period. Evergreen Capital Management LLC raised its stake in shares of Teck Resources by 7.8% during the second quarter. Evergreen Capital Management LLC now owns 5,064 shares of the basic materials company’s stock worth $243,000 after purchasing an additional 365 shares during the last quarter. Finally, Bruce G. Allen Investments LLC lifted its holdings in shares of Teck Resources by 77.4% during the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 383 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TECK shares. StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Citigroup raised Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. decreased their price target on Teck Resources from $57.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Scotiabank raised their target price on Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a report on Tuesday, October 8th. Finally, UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Teck Resources has an average rating of “Moderate Buy” and a consensus target price of $65.29.

Teck Resources Stock Performance

NYSE:TECK opened at $46.12 on Tuesday. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $23.63 billion, a P/E ratio of 69.88 and a beta of 1.04. The firm has a 50-day moving average price of $48.71 and a two-hundred day moving average price of $48.34. Teck Resources Limited has a twelve month low of $36.50 and a twelve month high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.24. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.09 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The company’s quarterly revenue was down 20.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 EPS. As a group, research analysts expect that Teck Resources Limited will post 1.82 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.0895 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Friday, December 13th. Teck Resources’s dividend payout ratio is presently 56.06%.

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.