First Hawaiian Bank Acquires 313 Shares of Teck Resources Limited (NYSE:TECK)

First Hawaiian Bank raised its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 6.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,552 shares of the basic materials company’s stock after purchasing an additional 313 shares during the period. First Hawaiian Bank’s holdings in Teck Resources were worth $254,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TECK. FIL Ltd raised its holdings in Teck Resources by 98.8% during the 4th quarter. FIL Ltd now owns 11,937,233 shares of the basic materials company’s stock valued at $504,588,000 after acquiring an additional 5,933,226 shares during the period. Norges Bank purchased a new position in Teck Resources during the 4th quarter valued at about $172,740,000. Principal Financial Group Inc. increased its position in shares of Teck Resources by 16,855.2% during the fourth quarter. Principal Financial Group Inc. now owns 2,640,100 shares of the basic materials company’s stock valued at $112,143,000 after buying an additional 2,624,529 shares during the period. Boston Partners boosted its position in shares of Teck Resources by 28.8% in the fourth quarter. Boston Partners now owns 10,881,781 shares of the basic materials company’s stock valued at $484,995,000 after acquiring an additional 2,432,378 shares during the period. Finally, Mackenzie Financial Corp grew its position in shares of Teck Resources by 45.7% during the 4th quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock valued at $280,491,000 after purchasing an additional 2,080,295 shares in the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Price Performance

Shares of TECK stock opened at $47.26 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.49. The firm has a market cap of $24.14 billion, a P/E ratio of 20.91, a P/E/G ratio of 10.65 and a beta of 1.08. The business’s 50 day moving average price is $49.66 and its 200-day moving average price is $44.09. Teck Resources Limited has a fifty-two week low of $34.38 and a fifty-two week high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.31). Teck Resources had a net margin of 10.59% and a return on equity of 7.52%. The company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.99 billion. On average, equities research analysts anticipate that Teck Resources Limited will post 2.18 earnings per share for the current year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be paid a $0.0911 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Monday, June 17th. Teck Resources’s payout ratio is currently 15.93%.

Analyst Upgrades and Downgrades

TECK has been the topic of a number of recent analyst reports. Morgan Stanley raised their target price on shares of Teck Resources from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. raised their price objective on Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Finally, Benchmark raised their price target on Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $58.57.

Teck Resources Company 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.