International Assets Investment Management LLC Raises Stock Holdings in Teck Resources Limited (NYSE:TECK)

International Assets Investment Management LLC lifted its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 5,354.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 572,759 shares of the basic materials company’s stock after buying an additional 562,259 shares during the quarter. International Assets Investment Management LLC owned approximately 0.11% of Teck Resources worth $24,211,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Douglas Lane & Associates LLC boosted its position in Teck Resources by 54.3% during the 4th quarter. Douglas Lane & Associates LLC now owns 663,366 shares of the basic materials company’s stock valued at $28,040,000 after acquiring an additional 233,361 shares in the last quarter. Pantechnicon Advisors LLP boosted its position in Teck Resources by 40.1% during the 3rd quarter. Pantechnicon Advisors LLP now owns 465,000 shares of the basic materials company’s stock valued at $20,037,000 after acquiring an additional 133,000 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in Teck Resources by 29.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,303,700 shares of the basic materials company’s stock valued at $56,372,000 after acquiring an additional 295,700 shares in the last quarter. Schechter Investment Advisors LLC boosted its position in Teck Resources by 17.7% during the 4th quarter. Schechter Investment Advisors LLC now owns 11,113 shares of the basic materials company’s stock valued at $470,000 after acquiring an additional 1,670 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Teck Resources by 7.1% during the 3rd quarter. Hsbc Holdings PLC now owns 306,056 shares of the basic materials company’s stock valued at $13,181,000 after purchasing an additional 20,283 shares during the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Price Performance

NYSE:TECK opened at $49.38 on Thursday. Teck Resources Limited has a 52 week low of $34.38 and a 52 week high of $50.30. The company has a quick ratio of 0.60, a current ratio of 1.10 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $25.21 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 6.02 and a beta of 1.15. The stock’s 50-day moving average price is $41.74 and its 200-day moving average price is $39.85.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Thursday, February 22nd. The basic materials company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.01. Teck Resources had a return on equity of 9.67% and a net margin of 16.21%. The firm had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $3.11 billion. As a group, equities analysts expect that Teck Resources Limited will post 3.77 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.0925 per share. This represents a $0.37 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Thursday, March 14th. Teck Resources’s dividend payout ratio (DPR) is presently 10.79%.

Analysts Set New Price Targets

TECK has been the subject of several analyst reports. Morgan Stanley decreased their price objective on Teck Resources from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, February 26th. Benchmark raised their target price on Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday. Finally, UBS Group began coverage on Teck Resources in a research note on Tuesday, January 16th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $64.29.

Teck Resources Profile

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