Teck Resources Ltd $TECK Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 4.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,141,019 shares of the basic materials company’s stock after buying an additional 182,251 shares during the quarter. Geode Capital Management LLC owned about 0.86% of Teck Resources worth $197,326,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in TECK. Wellington Management Group LLP lifted its position in Teck Resources by 264.5% during the third 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 lifted its position in Teck Resources by 7,150.0% during the third 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 purchased a new position in Teck Resources during the fourth quarter worth about $98,841,000. Maple Rock Capital Partners Inc. purchased a new position in Teck Resources during the third quarter worth about $88,601,000. Finally, Principal Financial Group Inc. lifted its position in Teck Resources by 11.6% during the fourth quarter. Principal Financial Group Inc. now owns 18,832,299 shares of the basic materials company’s stock worth $902,769,000 after buying an additional 1,953,070 shares during the period. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on TECK. Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a research report on Tuesday, April 14th. JPMorgan Chase & Co. increased their target price on Teck Resources from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Teck Resources in a research report on Friday, May 15th. Benchmark increased their target price on Teck Resources from $48.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings upgraded Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, five have given 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 a consensus price target of $59.17.

Teck Resources Stock Performance

Teck Resources stock opened at $67.36 on Thursday. The stock’s 50-day moving average is $59.10 and its 200-day moving average is $53.30. The company has a market cap of $32.48 billion, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 5.17 and a beta of 0.89. 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 12 month low of $30.98 and a 12 month high of $71.25.

Teck Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, June 15th. Teck Resources’s dividend payout ratio (DPR) is 13.55%.

Teck Resources Profile

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.