Teck Resources Limited (NYSE:TECK) Shares Bought by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC increased its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 10.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 950,612 shares of the basic materials company’s stock after acquiring an additional 91,370 shares during the period. Douglas Lane & Associates LLC owned approximately 0.19% of Teck Resources worth $38,528,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TECK. FMR LLC grew its stake in shares of Teck Resources by 72.8% during the 3rd quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock valued at $189,848,000 after buying an additional 1,531,563 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in Teck Resources during the third quarter worth about $70,549,000. Principal Financial Group Inc. lifted its stake 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 valued at $388,507,000 after purchasing an additional 1,326,241 shares in the last quarter. Holocene Advisors LP grew its holdings in shares of Teck Resources by 152.7% during the 3rd quarter. Holocene Advisors LP now owns 2,070,377 shares of the basic materials company’s stock worth $108,156,000 after purchasing an additional 1,251,203 shares during the period. Finally, Cibc World Market Inc. increased its position in Teck Resources by 26.1% during the 2nd quarter. Cibc World Market Inc. now owns 4,779,715 shares of the basic materials company’s stock worth $228,948,000 after purchasing an additional 989,612 shares in the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TECK shares. Citigroup raised shares of Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. National Bank Financial lowered shares of 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 report on Monday, November 11th. Deutsche Bank Aktiengesellschaft cut Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research note on Friday, October 25th. Finally, Scotiabank increased their target price on Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research note on Tuesday, October 8th. Six 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. According to MarketBeat, Teck Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.29.

Teck Resources Stock Up 0.5 %

Shares of NYSE:TECK traded up $0.19 during midday trading on Wednesday, reaching $41.36. The company had a trading volume of 1,091,288 shares, compared to its average volume of 1,693,518. The stock has a market capitalization of $20.73 billion, a P/E ratio of 62.67 and a beta of 1.05. The stock’s fifty day moving average price is $44.68 and its 200-day moving average price is $46.96. 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 Limited has a one year low of $36.50 and a one year 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 the consensus estimate of $0.36 by $0.24. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.09 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The company’s revenue was down 20.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.57 EPS. Equities research analysts expect that Teck Resources Limited will post 1.81 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $0.0895 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.87%. Teck Resources’s dividend payout ratio (DPR) 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.