Davis Selected Advisers Has $483.83 Million Stock Holdings in Teck Resources Ltd $TECK

Davis Selected Advisers decreased its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 0.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 11,023,662 shares of the basic materials company’s stock after selling 11,331 shares during the quarter. Teck Resources comprises 2.5% of Davis Selected Advisers’ investment portfolio, making the stock its 14th largest holding. Davis Selected Advisers’ holdings in Teck Resources were worth $483,829,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake 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 during the last quarter. Norges Bank acquired a new position in Teck Resources in the second quarter valued at approximately $437,657,000. Northwest & Ethical Investments L.P. boosted 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 valued at $6,402,000 after acquiring an additional 21,900 shares during the last quarter. Alps Advisors Inc. boosted 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 valued at $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 during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Price Performance

Shares of TECK stock opened at $48.91 on Thursday. 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 Ltd has a 12-month low of $28.32 and a 12-month high of $62.41. The firm has a fifty day moving average of $54.77 and a 200-day moving average of $46.85. The firm has a market capitalization of $23.55 billion, a price-to-earnings ratio of 24.21, a price-to-earnings-growth ratio of 3.04 and a beta of 0.77.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.59 by $0.39. The business had revenue of $2.23 billion for 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 firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.45 EPS. On average, equities research analysts forecast that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Teck Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.0%. Teck Resources’s dividend payout ratio (DPR) is currently 18.32%.

Analyst Ratings Changes

TECK has been the subject of several recent research reports. JPMorgan Chase & Co. upped their target price on shares of Teck Resources from $43.00 to $51.00 and gave the company a “neutral” rating in a research report on Friday, December 5th. Raymond James Financial downgraded Teck Resources from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $46.00 target price on shares of Teck Resources in a research note on Wednesday, November 26th. UBS Group restated a “buy” rating on shares of Teck Resources in a report on Tuesday, January 27th. Finally, National Bank Financial lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, Teck Resources currently has a consensus rating of “Hold” and an average price target of $57.00.

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.