Wells Fargo & Company MN boosted its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 621.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 596,196 shares of the basic materials company’s stock after purchasing an additional 513,553 shares during the period. Wells Fargo & Company MN owned about 0.10% of Teck Resources worth $15,602,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. Ameriprise Financial Inc. purchased a new stake in shares of Teck Resources during the 2nd quarter valued at $284,000. Keybank National Association OH bought a new position in shares of Teck Resources during the 3rd quarter valued at $218,000. Sei Investments Co. grew its holdings in shares of Teck Resources by 9,378.9% during the 3rd quarter. Sei Investments Co. now owns 61,992 shares of the basic materials company’s stock valued at $1,307,000 after purchasing an additional 61,338 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Teck Resources by 31.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 162,832 shares of the basic materials company’s stock valued at $3,831,000 after purchasing an additional 38,995 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Teck Resources by 2.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 611,879 shares of the basic materials company’s stock valued at $12,904,000 after purchasing an additional 13,783 shares during the last quarter. 54.29% of the stock is owned by institutional investors and hedge funds.
NYSE TECK opened at $26.19 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. Teck Resources Ltd has a 12 month low of $14.56 and a 12 month high of $30.80. The stock has a market capitalization of $14,629.00, a PE ratio of 7.64, a P/E/G ratio of 0.68 and a beta of 1.50.
Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Wednesday, February 14th. The basic materials company reported $0.95 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.01 by ($0.06). The firm had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.28 billion. Teck Resources had a net margin of 20.83% and a return on equity of 13.69%. The business’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.61 earnings per share. equities research analysts anticipate that Teck Resources Ltd will post 3.65 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 15th were given a $0.04 dividend. This is a positive change from Teck Resources’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Wednesday, March 14th. Teck Resources’s dividend payout ratio (DPR) is presently 4.66%.
A number of brokerages have issued reports on TECK. Scotiabank raised shares of Teck Resources from an “outperform” rating to a “focus list” rating in a report on Monday, January 8th. Seaport Global Securities assumed coverage on shares of Teck Resources in a research report on Friday, March 2nd. They issued a “hold” rating for the company. Goldman Sachs assumed coverage on shares of Teck Resources in a research report on Tuesday, March 20th. They set a “neutral” rating and a $31.00 price target for the company. Macquarie raised shares of Teck Resources from a “neutral” rating to an “outperform” rating in a report on Tuesday, March 27th. Finally, Zacks Investment Research cut shares of Teck Resources from a “buy” rating to a “hold” rating in a report on Friday, March 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Teck Resources presently has an average rating of “Buy” and an average price target of $30.35.
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Teck Resources Company Profile
Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.
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