First Hawaiian Bank raised its holdings in Teck Resources Limited (NYSE:TECK – Free Report) (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 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.
View Our Latest Analysis on TECK
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.
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