Teck Resources Ltd (TECK) Stake Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 14.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 521,788 shares of the basic materials company’s stock after selling 85,953 shares during the period. Bank of New York Mellon Corp owned 0.09% of Teck Resources worth $13,279,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Van ECK Associates Corp grew its position in Teck Resources by 2.1% during the second quarter. Van ECK Associates Corp now owns 7,948,385 shares of the basic materials company’s stock valued at $202,286,000 after acquiring an additional 159,699 shares during the period. Toronto Dominion Bank grew its position in Teck Resources by 83.4% during the second quarter. Toronto Dominion Bank now owns 2,410,538 shares of the basic materials company’s stock valued at $61,803,000 after acquiring an additional 1,096,126 shares during the period. Dimensional Fund Advisors LP grew its position in Teck Resources by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 5,910,205 shares of the basic materials company’s stock valued at $150,415,000 after acquiring an additional 309,739 shares during the period. Capital Fund Management S.A. grew its position in Teck Resources by 41.6% during the second quarter. Capital Fund Management S.A. now owns 560,134 shares of the basic materials company’s stock valued at $14,255,000 after acquiring an additional 164,556 shares during the period. Finally, Nomura Holdings Inc. grew its position in Teck Resources by 28.1% during the second quarter. Nomura Holdings Inc. now owns 14,092 shares of the basic materials company’s stock valued at $359,000 after acquiring an additional 3,091 shares during the period. 53.46% of the stock is owned by institutional investors and hedge funds.

Shares of TECK opened at $21.45 on Friday. The stock has a market cap of $12.32 billion, a price-to-earnings ratio of 6.25, a P/E/G ratio of 0.61 and a beta of 1.60. Teck Resources Ltd has a 12 month low of $18.17 and a 12 month high of $30.80. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.39 and a current ratio of 2.30.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.11). The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.40 billion. Teck Resources had a return on equity of 12.31% and a net margin of 27.35%. As a group, equities research analysts predict that Teck Resources Ltd will post 3.4 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 14th will be paid a $0.038 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, December 13th. Teck Resources’s dividend payout ratio (DPR) is 4.37%.

A number of research analysts have commented on the company. Barclays assumed coverage on Teck Resources in a research note on Wednesday, October 10th. They set an “overweight” rating on the stock. ValuEngine cut Teck Resources from a “sell” rating to a “strong sell” rating in a research note on Friday, October 26th. Scotiabank restated a “buy” rating on shares of Teck Resources in a research note on Tuesday, October 30th. Canaccord Genuity restated a “buy” rating on shares of Teck Resources in a research note on Tuesday, October 30th. Finally, Clarkson Capital upgraded Teck Resources from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $31.43.

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About Teck Resources

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Americas, the Asia Pacific, and Europe. It operates through five segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate. The company's principal products comprise steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.

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Institutional Ownership by Quarter for Teck Resources (NYSE:TECK)

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