Employees Retirement System of Texas Invests $2.08 Million in Teck Resources Ltd $TECK

Employees Retirement System of Texas acquired a new stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 43,477 shares of the basic materials company’s stock, valued at approximately $2,082,000.

A number of other hedge funds have also recently modified their holdings of the business. Principal Financial Group Inc. boosted its holdings in Teck Resources by 36.1% in the 3rd quarter. Principal Financial Group Inc. now owns 16,879,229 shares of the basic materials company’s stock worth $740,604,000 after buying an additional 4,474,637 shares during the period. Wellington Management Group LLP boosted its holdings in Teck Resources by 264.5% in the 3rd quarter. Wellington Management Group LLP now owns 5,781,060 shares of the basic materials company’s stock worth $253,695,000 after buying an additional 4,194,868 shares during the period. Pentwater Capital Management LP boosted its holdings in Teck Resources by 7,150.0% in the 3rd quarter. Pentwater Capital Management LP now owns 2,900,000 shares of the basic materials company’s stock worth $127,281,000 after buying an additional 2,860,000 shares during the period. Carrhae Capital LLP bought a new position in Teck Resources in the 4th quarter worth $98,841,000. Finally, Maple Rock Capital Partners Inc. bought a new position in Teck Resources in the 3rd quarter worth $88,601,000. Institutional investors own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wall Street Zen raised shares of Teck Resources to a “buy” rating in a report on Saturday, May 16th. JPMorgan Chase & Co. upped their target price on shares of Teck Resources from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Teck Resources in a report on Friday, May 15th. Zacks Research downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings raised shares of Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, Teck Resources presently has a consensus rating of “Hold” and an average price target of $59.17.

Teck Resources Stock Performance

Teck Resources stock opened at $65.23 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16. Teck Resources Ltd has a 1-year low of $30.98 and a 1-year high of $67.67. The firm has a market capitalization of $31.44 billion, a P/E ratio of 23.89, a price-to-earnings-growth ratio of 4.78 and a beta of 0.86. The company’s 50-day moving average is $57.13 and its 200 day moving average is $52.41.

Teck Resources Announces Dividend

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

About Teck Resources

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.