Ninety One SA PTY Ltd Acquires 45,750 Shares of Teck Resources Limited (NYSE:TECK)

Ninety One SA PTY Ltd raised its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 45.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 147,093 shares of the basic materials company’s stock after purchasing an additional 45,750 shares during the quarter. Ninety One SA PTY Ltd’s holdings in Teck Resources were worth $6,236,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Federated Hermes Inc. lifted its holdings in shares of Teck Resources by 44.4% in the 4th quarter. Federated Hermes Inc. now owns 116,064 shares of the basic materials company’s stock worth $4,906,000 after acquiring an additional 35,680 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Teck Resources by 2.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 191,434 shares of the basic materials company’s stock worth $8,132,000 after acquiring an additional 4,308 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Teck Resources by 45.7% in the 4th quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock worth $280,491,000 after acquiring an additional 2,080,295 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Teck Resources by 11.2% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,323,288 shares of the basic materials company’s stock valued at $56,107,000 after buying an additional 133,019 shares in the last quarter. Finally, Ingalls & Snyder LLC lifted its holdings in Teck Resources by 0.5% during the 4th quarter. Ingalls & Snyder LLC now owns 609,985 shares of the basic materials company’s stock valued at $25,784,000 after buying an additional 3,075 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Performance

NYSE:TECK traded up $0.57 during trading hours on Thursday, hitting $47.77. 2,085,822 shares of the company were exchanged, compared to its average volume of 3,951,040. The stock has a market capitalization of $24.39 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 6.49 and a beta of 1.15. Teck Resources Limited has a 52-week low of $34.38 and a 52-week high of $50.46. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.10 and a quick ratio of 0.60. The company’s 50 day moving average price is $42.60 and its 200-day moving average price is $40.07.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $1.02 EPS for the quarter, beating the consensus estimate of $1.01 by $0.01. Teck Resources had a net margin of 16.21% and a return on equity of 9.67%. The business had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.11 billion. As a group, research analysts forecast that Teck Resources Limited will post 3.51 earnings per share for the current year.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.0925 per share. This represents a $0.37 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend was Thursday, March 14th. Teck Resources’s payout ratio is 10.79%.

Wall Street Analyst Weigh In

TECK has been the subject of a number of research analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $55.00 price objective on shares of Teck Resources in a report on Thursday, April 11th. Benchmark raised their target price on shares of Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. raised their target price on shares of Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, UBS Group started coverage on shares of Teck Resources in a research report on Tuesday, January 16th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.04.

Teck Resources Company 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.