AMF Tjanstepension AB Buys 5,107 Shares of Teck Resources Limited (NYSE:TECK)

AMF Tjanstepension AB raised its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 0.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,983,366 shares of the basic materials company’s stock after purchasing an additional 5,107 shares during the period. Teck Resources makes up approximately 0.8% of AMF Tjanstepension AB’s holdings, making the stock its 28th biggest position. AMF Tjanstepension AB’s holdings in Teck Resources were worth $83,669,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Nvwm LLC bought a new stake in Teck Resources in the 1st quarter valued at $26,000. Money Concepts Capital Corp bought a new stake in Teck Resources in the 4th quarter valued at $29,000. Achmea Investment Management B.V. bought a new stake in Teck Resources in the 1st quarter valued at $37,000. EverSource Wealth Advisors LLC boosted its holdings in Teck Resources by 1,423.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 960 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 897 shares during the period. Finally, Covestor Ltd bought a new position in shares of Teck Resources during the 1st quarter worth about $53,000. 59.23% of the stock is owned by institutional investors.

Teck Resources Stock Up 2.2 %

Shares of NYSE TECK opened at $43.18 on Thursday. The stock has a market cap of $22.11 billion, a P/E ratio of 17.11 and a beta of 1.10. The firm has a 50 day moving average price of $41.33 and a 200 day moving average price of $41.33. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.72 and a current ratio of 1.29. Teck Resources Limited has a 52-week low of $28.41 and a 52-week high of $49.34.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.06). The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.77 billion. Teck Resources had a net margin of 11.39% and a return on equity of 11.24%. Analysts expect that Teck Resources Limited will post 3.94 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.094 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, September 14th. Teck Resources’s payout ratio is currently 14.98%.

Analysts Set New Price Targets

TECK has been the subject of a number of analyst reports. Scotiabank reduced their price objective on shares of Teck Resources from C$70.00 to C$69.00 in a report on Friday, July 28th. B. Riley reduced their price objective on shares of Teck Resources from C$68.00 to C$67.00 in a report on Monday, June 26th. Stifel Nicolaus reduced their price objective on shares of Teck Resources from C$72.00 to C$68.00 in a report on Monday, July 10th. National Bank Financial raised shares of Teck Resources from a “sector perform” rating to an “outperform” rating in a report on Thursday, July 27th. Finally, Wolfe Research downgraded shares of Teck Resources from an “outperform” rating to a “peer perform” rating in a report on Tuesday, July 11th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Teck Resources presently has an average rating of “Moderate Buy” and an average price target of $62.21.

Teck Resources Profile

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.