Teck Resources Ltd $TECK Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 2.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,916,856 shares of the basic materials company’s stock after buying an additional 37,419 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.40% of Teck Resources worth $84,068,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in shares of Teck Resources by 36.1% during the third quarter. Principal Financial Group Inc. now owns 16,879,229 shares of the basic materials company’s stock worth $740,604,000 after buying an additional 4,474,637 shares in the last quarter. Norges Bank acquired a new stake in Teck Resources in the second quarter valued at approximately $437,657,000. Northwest & Ethical Investments L.P. lifted its stake in Teck Resources by 16.1% in the second quarter. Northwest & Ethical Investments L.P. now owns 157,645 shares of the basic materials company’s stock worth $6,402,000 after acquiring an additional 21,900 shares during the last quarter. Alps Advisors Inc. lifted its stake in Teck Resources by 37.3% in the third quarter. Alps Advisors Inc. now owns 166,334 shares of the basic materials company’s stock worth $7,300,000 after acquiring an additional 45,194 shares during the last quarter. Finally, Swiss National Bank grew its holdings in Teck Resources by 6.0% during the 2nd quarter. Swiss National Bank now owns 1,428,679 shares of the basic materials company’s stock worth $57,555,000 after acquiring an additional 80,300 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Trading Up 1.4%

NYSE:TECK opened at $53.22 on Thursday. The company has a market capitalization of $25.62 billion, a PE ratio of 26.35, a P/E/G ratio of 3.20 and a beta of 0.77. Teck Resources Ltd has a 52-week low of $28.32 and a 52-week high of $62.41. The stock’s 50 day moving average price is $54.70 and its 200 day moving average price is $46.27. The company has a quick ratio of 1.91, a current ratio of 2.54 and a debt-to-equity ratio of 0.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.39. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.28 billion. Teck Resources had a return on equity of 5.90% and a net margin of 12.98%.The company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 earnings per share. On average, research analysts anticipate that Teck Resources Ltd will post 1.53 EPS for the current year.

Teck Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a $0.125 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.50 annualized dividend and a yield of 0.9%. Teck Resources’s dividend payout ratio is 17.82%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TECK. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $46.00 price objective on shares of Teck Resources in a research report on Wednesday, November 26th. Citigroup upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating in a research note on Monday, February 2nd. JPMorgan Chase & Co. increased their target price on Teck Resources from $43.00 to $51.00 and gave the company a “neutral” rating in a report on Friday, December 5th. National Bank Financial cut Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. Finally, Raymond James Financial downgraded Teck Resources from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, Teck Resources presently has an average rating of “Hold” and an average target price of $57.00.

About Teck Resources

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.