American Century Companies Inc. Sells 1,704 Shares of Teck Resources Limited (NYSE:TECK)

American Century Companies Inc. decreased its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 0.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 820,699 shares of the basic materials company’s stock after selling 1,704 shares during the period. American Century Companies Inc.’s holdings in Teck Resources were worth $33,266,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in TECK. Swedbank AB bought a new stake in Teck Resources in the fourth quarter valued at about $103,878,000. FMR LLC grew its position 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 worth $189,848,000 after buying an additional 1,531,563 shares during the period. AMF Tjanstepension AB increased its stake in shares of Teck Resources by 32.2% in the 4th quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company’s stock valued at $244,252,000 after acquiring an additional 1,467,516 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Teck Resources in the 3rd quarter valued at about $70,549,000. Finally, Principal Financial Group Inc. raised its position 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 acquiring an additional 1,326,241 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analyst Upgrades and Downgrades

TECK has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Bank of America raised their price objective on Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. National Bank Financial cut Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Finally, Raymond James dropped their price target on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $65.22.

Teck Resources Price Performance

NYSE TECK opened at $37.43 on Friday. The firm’s 50 day moving average is $41.56 and its 200-day moving average is $44.64. 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 company has a market capitalization of $18.84 billion, a PE ratio of 68.05 and a beta of 0.93. Teck Resources Limited has a 12-month low of $36.54 and a 12-month high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.07. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.58 billion. Equities research analysts anticipate that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.0879 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 annualized dividend and a yield of 0.94%. Teck Resources’s dividend payout ratio (DPR) is presently 61.82%.

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.