TD Waterhouse Canada Inc. Purchases 14,737 Shares of Teck Resources Limited (NYSE:TECK)

TD Waterhouse Canada Inc. lifted its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,815,851 shares of the basic materials company’s stock after purchasing an additional 14,737 shares during the period. TD Waterhouse Canada Inc.’s holdings in Teck Resources were worth $73,418,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TECK. Stonebridge Financial Group LLC purchased a new stake in shares of Teck Resources during the 4th quarter valued at $25,000. Global Trust Asset Management LLC bought a new position in Teck Resources during the fourth quarter valued at about $27,000. FPC Investment Advisory Inc. purchased a new stake in Teck Resources during the fourth quarter worth about $27,000. Community Bank N.A. bought a new stake in Teck Resources in the fourth quarter worth about $33,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Teck Resources in the third quarter valued at about $40,000. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Bank of America raised their price target on shares of Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. UBS Group reissued a “neutral” rating on shares of Teck Resources in a research report on Tuesday, April 15th. JPMorgan Chase & Co. dropped their price target on Teck Resources from $50.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Raymond James decreased their price objective on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. Finally, Desjardins began coverage on shares of Teck Resources in a report on Friday, April 4th. They set a “buy” rating on the stock. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.11.

Teck Resources Trading Down 1.6 %

Shares of TECK stock opened at $32.90 on Monday. Teck Resources Limited has a 52-week low of $28.32 and a 52-week high of $55.13. The business’s fifty day moving average is $38.42 and its 200 day moving average is $42.69. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The company has a market capitalization of $16.28 billion, a PE ratio of 59.82 and a beta of 0.81.

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 analysts’ consensus estimates of $0.26 by $0.07. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. On average, equities research analysts anticipate that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.0879 per share. This represents a $0.35 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Friday, March 14th. Teck Resources’s dividend payout ratio (DPR) is currently 61.82%.

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.