Massachusetts Financial Services Co. MA Buys 206,728 Shares of Teck Resources Limited (NYSE:TECK)

Massachusetts Financial Services Co. MA grew its holdings in Teck Resources Limited (NYSE:TECKFree Report) (TSE:TECK) by 37.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 760,192 shares of the basic materials company’s stock after purchasing an additional 206,728 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.15% of Teck Resources worth $32,757,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Park Place Capital Corp bought a new position in shares of Teck Resources in the 2nd quarter valued at $27,000. Baystate Wealth Management LLC bought a new position in shares of Teck Resources in the 3rd quarter valued at $31,000. Money Concepts Capital Corp bought a new stake in Teck Resources during the 4th quarter worth $29,000. Optimum Investment Advisors grew its position in Teck Resources by 60.0% during the 2nd quarter. Optimum Investment Advisors now owns 800 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 300 shares during the last quarter. Finally, JFS Wealth Advisors LLC grew its position in Teck Resources by 249.0% during the 3rd quarter. JFS Wealth Advisors LLC now owns 841 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 600 shares during the last quarter. Institutional investors own 59.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TECK shares. B. Riley reduced their price objective on Teck Resources from $78.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday, October 26th. Scotiabank lowered Teck Resources from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, October 17th. StockNews.com started coverage on Teck Resources in a research report on Monday, December 11th. They set a “hold” rating on the stock. Morgan Stanley reduced their price objective on Teck Resources from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, December 7th. Finally, JPMorgan Chase & Co. started coverage on Teck Resources in a research report on Tuesday, October 17th. They issued an “overweight” rating and a $52.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Teck Resources currently has a consensus rating of “Moderate Buy” and an average price target of $64.61.

Get Our Latest Research Report on TECK

Teck Resources Stock Down 2.5 %

Shares of NYSE:TECK opened at $37.01 on Friday. The company has a market capitalization of $19.24 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 4.40 and a beta of 1.15. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.20 and a quick ratio of 0.68. The business’s 50-day moving average is $39.67 and its 200-day moving average is $39.60. Teck Resources Limited has a 1 year low of $32.48 and a 1 year high of $49.34.

Teck Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.35%. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, December 14th. Teck Resources’s payout ratio is currently 11.78%.

Teck Resources Company Profile

(Free Report)

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.

See Also

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

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