Teck Resources Limited (NYSE:TECK) Shares Bought by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky grew its stake in shares of Teck Resources Limited (NYSE:TECKGet Rating) (TSE:TECK) by 9.1% in the first quarter, Holdings Channel.com reports. The fund owned 97,300 shares of the basic materials company’s stock after purchasing an additional 8,100 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Teck Resources were worth $3,930,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TECK. Soroban Capital Partners LP acquired a new position in shares of Teck Resources during the 4th quarter worth approximately $318,590,000. ANTIPODES PARTNERS Ltd raised its position in shares of Teck Resources by 330.9% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 3,962,472 shares of the basic materials company’s stock worth $160,044,000 after purchasing an additional 3,042,942 shares during the last quarter. Egerton Capital UK LLP acquired a new position in shares of Teck Resources during the 1st quarter worth approximately $111,170,000. Cowa LLC raised its position in shares of Teck Resources by 9,975.4% during the 1st quarter. Cowa LLC now owns 2,008,935 shares of the basic materials company’s stock worth $811,000 after purchasing an additional 1,988,996 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Teck Resources by 386.2% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,203,590 shares of the basic materials company’s stock worth $88,953,000 after purchasing an additional 1,750,373 shares during the last quarter. 55.01% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Stock Down 0.8 %

Shares of Teck Resources stock opened at $32.08 on Monday. The company has a fifty day moving average price of $31.21 and a 200 day moving average price of $36.17. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.25. Teck Resources Limited has a twelve month low of $22.75 and a twelve month high of $45.90. The stock has a market cap of $16.74 billion, a price-to-earnings ratio of 3.99, a price-to-earnings-growth ratio of 1.07 and a beta of 1.09.

Teck Resources (NYSE:TECKGet Rating) (TSE:TECK) last announced its quarterly earnings results on Wednesday, July 27th. The basic materials company reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $1.24. Teck Resources had a net margin of 28.90% and a return on equity of 23.73%. The firm had revenue of $5.79 billion during the quarter, compared to analysts’ expectations of $5.59 billion. During the same period in the prior year, the company earned $0.51 EPS. The firm’s revenue was up 126.2% on a year-over-year basis. Equities research analysts forecast that Teck Resources Limited will post 6.83 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be issued a $0.097 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $0.39 dividend on an annualized basis and a yield of 1.21%. Teck Resources’s dividend payout ratio is currently 4.72%.

Wall Street Analyst Weigh In

TECK has been the subject of several research reports. Barclays cut their price objective on Teck Resources from C$50.00 to C$42.00 in a research report on Tuesday, July 19th. TD Securities lowered their target price on shares of Teck Resources from C$57.00 to C$55.00 in a research note on Thursday, July 28th. TheStreet raised shares of Teck Resources from a “c+” rating to a “b-” rating in a research note on Friday, May 27th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Teck Resources from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, July 7th. Finally, CIBC raised shares of Teck Resources from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 15th. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $50.66.

Teck Resources Company Profile

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Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, and Energy segments. The company's principal products include copper, zinc, steelmaking coal, and blended bitumen.

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

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