Teck Resources Limited (NYSE:TECK) Shares Purchased by First Trust Advisors LP

First Trust Advisors LP boosted its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 1.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 65,749 shares of the basic materials company’s stock after purchasing an additional 1,027 shares during the period. First Trust Advisors LP’s holdings in Teck Resources were worth $2,665,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board boosted its stake in shares of Teck Resources by 21.3% in the fourth quarter. Canada Pension Plan Investment Board now owns 2,705,471 shares of the basic materials company’s stock valued at $109,550,000 after purchasing an additional 474,900 shares during the period. Altshuler Shaham Ltd purchased a new position in Teck Resources in the 4th quarter valued at approximately $70,000. MSH Capital Advisors LLC acquired a new position in shares of Teck Resources in the fourth quarter worth $214,000. Jump Financial LLC increased its position in shares of Teck Resources by 63.2% during the fourth quarter. Jump Financial LLC now owns 223,529 shares of the basic materials company’s stock worth $9,060,000 after acquiring an additional 86,566 shares during the period. Finally, Causeway Capital Management LLC acquired a new stake in shares of Teck Resources in the fourth quarter valued at $263,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on TECK. Desjardins began coverage on Teck Resources in a report on Friday, April 4th. They set a “buy” rating on the stock. Raymond James reduced their target price on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. National Bankshares raised shares of Teck Resources from a “sector perform” rating to an “outperform” rating in a research report on Thursday, April 24th. UBS Group reaffirmed a “neutral” rating on shares of Teck Resources in a research report on Tuesday, April 15th. Finally, BMO Capital Markets began coverage on Teck Resources in a report on Wednesday, April 16th. They issued an “outperform” rating on the stock. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Teck Resources presently has a consensus rating of “Moderate Buy” and an average price target of $64.11.

Teck Resources Stock Up 3.8 %

Teck Resources stock opened at $35.51 on Monday. The stock has a market capitalization of $17.50 billion, a price-to-earnings ratio of 64.56 and a beta of 0.79. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average of $36.88 and a two-hundred day moving average of $41.60. Teck Resources Limited has a twelve month low of $28.32 and a twelve month high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.18. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the company posted $0.75 EPS. Teck Resources’s revenue was up 41.4% compared to the same quarter last year. As a group, research analysts expect that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $0.0901 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Monday, June 16th. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s payout ratio is currently 58.62%.

Teck Resources 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.