Teck Resources Ltd $TECK Shares Purchased by RWC Asset Management LLP

RWC Asset Management LLP grew its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 14.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 341,878 shares of the basic materials company’s stock after buying an additional 43,571 shares during the period. RWC Asset Management LLP’s holdings in Teck Resources were worth $15,005,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in Teck Resources in the second quarter worth approximately $49,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Teck Resources by 102.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 668 shares during the last quarter. Tobam acquired a new stake in Teck Resources in the 2nd quarter valued at approximately $62,000. CWM LLC lifted its stake in Teck Resources by 22.7% during the 3rd quarter. CWM LLC now owns 2,078 shares of the basic materials company’s stock worth $91,000 after acquiring an additional 384 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in Teck Resources by 38.7% during the 2nd quarter. Allworth Financial LP now owns 3,263 shares of the basic materials company’s stock worth $132,000 after buying an additional 910 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TECK. Raymond James Financial reiterated an “outperform” rating on shares of Teck Resources in a research note on Friday, October 10th. Canaccord Genuity Group downgraded shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a report on Tuesday, November 25th. JPMorgan Chase & Co. boosted their target price on shares of Teck Resources from $43.00 to $51.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Finally, Citigroup restated a “neutral” rating on shares of Teck Resources in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Teck Resources currently has an average rating of “Hold” and an average target price of $55.71.

Teck Resources Trading Up 1.9%

Shares of Teck Resources stock opened at $50.55 on Tuesday. The company has a 50-day moving average of $44.41 and a two-hundred day moving average of $40.42. Teck Resources Ltd has a 12-month low of $28.32 and a 12-month high of $52.24. The company has a current ratio of 2.78, a quick ratio of 2.08 and a debt-to-equity ratio of 0.15. The stock has a market cap of $24.30 billion, a PE ratio of 28.40, a price-to-earnings-growth ratio of 0.56 and a beta of 0.79.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.16. Teck Resources had a return on equity of 4.14% and a net margin of 11.93%.The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the prior year, the company earned $0.60 EPS. Teck Resources’s revenue was up 18.4% on a year-over-year basis. On average, research analysts anticipate that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Monday, December 15th. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio is presently 20.22%.

Teck Resources Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.