37,045 Shares in Teck Resources Limited (NYSE:TECK) Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 37,045 shares of the basic materials company’s stock, valued at approximately $1,937,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Headlands Technologies LLC acquired a new stake in Teck Resources during the second quarter worth about $38,000. Eastern Bank acquired a new stake in shares of Teck Resources during the 3rd quarter worth approximately $39,000. Bruce G. Allen Investments LLC increased its holdings in shares of Teck Resources by 77.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 383 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Teck Resources by 583.1% in the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 898 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its holdings 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 in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on TECK. 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 report on Wednesday, October 2nd. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. UBS Group downgraded Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Teck Resources presently has an average rating of “Moderate Buy” and an average price target of $65.29.

Teck Resources Price Performance

Teck Resources stock opened at $40.12 on Thursday. The company has a fifty day simple moving average of $47.27 and a 200-day simple moving average of $47.78. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $20.55 billion, a price-to-earnings ratio of 60.79 and a beta of 1.03. Teck Resources Limited has a 52-week low of $36.50 and a 52-week high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.24. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the company posted $0.57 EPS. The business’s revenue was down 20.6% on a year-over-year basis. On average, equities analysts anticipate that Teck Resources Limited will post 1.81 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.0895 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.36 annualized dividend and a yield of 0.89%. Teck Resources’s payout ratio is 56.06%.

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.