Teck Resources Limited (NYSE:TECK) Shares Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH lifted its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 31.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,513,304 shares of the basic materials company’s stock after purchasing an additional 358,927 shares during the quarter. Allianz Asset Management GmbH’s holdings in Teck Resources were worth $61,324,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Synergy Asset Management LLC grew its stake in Teck Resources by 77.7% in the 4th quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company’s stock valued at $685,000 after acquiring an additional 7,387 shares during the period. Forest Avenue Capital Management LP grew its stake in Teck Resources by 3.7% in the 3rd quarter. Forest Avenue Capital Management LP now owns 720,920 shares of the basic materials company’s stock valued at $37,661,000 after acquiring an additional 25,430 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Teck Resources in the 3rd quarter valued at $1,937,000. Intech Investment Management LLC grew its stake in Teck Resources by 20.9% in the 3rd quarter. Intech Investment Management LLC now owns 98,145 shares of the basic materials company’s stock valued at $5,132,000 after acquiring an additional 16,981 shares during the period. Finally, CIBC Asset Management Inc grew its stake in Teck Resources by 2.6% in the 3rd quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company’s stock valued at $341,337,000 after acquiring an additional 165,759 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TECK. JPMorgan Chase & Co. dropped their price target on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. National Bank Financial cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Finally, Raymond James lowered their target price on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.38.

Teck Resources Stock Down 5.2 %

NYSE TECK opened at $41.12 on Friday. Teck Resources Limited has a 52 week low of $37.30 and a 52 week high of $55.13. 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 business’s fifty day simple moving average is $41.95 and its 200-day simple moving average is $45.72. The firm has a market cap of $20.51 billion, a PE ratio of 74.76 and a beta of 1.02.

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

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.0879 per share. The ex-dividend date is Friday, March 14th. This represents a $0.35 annualized dividend and a dividend yield of 0.86%. Teck Resources’s dividend payout ratio is presently 63.64%.

Teck Resources 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.