RWC Asset Management LLP Has $10.22 Million Stake in Teck Resources Ltd $TECK

RWC Asset Management LLP decreased its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 37.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 213,497 shares of the basic materials company’s stock after selling 128,381 shares during the period. RWC Asset Management LLP’s holdings in Teck Resources were worth $10,224,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Teck Resources by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 20,185,694 shares of the basic materials company’s stock valued at $966,370,000 after purchasing an additional 278,481 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Teck Resources by 11.6% in the 4th quarter. Principal Financial Group Inc. now owns 18,832,299 shares of the basic materials company’s stock valued at $902,769,000 after purchasing an additional 1,953,070 shares during the period. Davis Selected Advisers increased its holdings in shares of Teck Resources by 9.0% in the 4th quarter. Davis Selected Advisers now owns 12,019,609 shares of the basic materials company’s stock valued at $575,620,000 after purchasing an additional 995,947 shares during the period. Norges Bank acquired a new position in shares of Teck Resources in the 4th quarter valued at about $404,880,000. Finally, Goldman Sachs Group Inc. increased its holdings in Teck Resources by 11.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 7,939,413 shares of the basic materials company’s stock worth $380,218,000 after buying an additional 836,879 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Trading Down 0.1%

NYSE:TECK opened at $61.60 on Monday. The stock’s 50 day moving average price is $59.70 and its 200 day moving average price is $53.64. Teck Resources Ltd has a 52 week low of $30.98 and a 52 week high of $71.25. The company has a market capitalization of $29.70 billion, a P/E ratio of 22.56, a P/E/G ratio of 4.52 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.16 and a current ratio of 2.83.

Teck Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, June 15th. Teck Resources’s dividend payout ratio (DPR) is 13.55%.

Analysts Set New Price Targets

A number of research firms recently commented on TECK. TD Securities restated a “hold” rating on shares of Teck Resources in a report on Friday, April 24th. Wall Street Zen upgraded Teck Resources to a “buy” rating in a report on Saturday, May 16th. Benchmark increased their price objective on Teck Resources from $48.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Veritas downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Teck Resources in a report on Friday, May 15th. Five investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $59.17.

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.