Teck Resources Limited (NYSE:TECK) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. boosted its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 44.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 116,064 shares of the basic materials company’s stock after purchasing an additional 35,680 shares during the period. Federated Hermes Inc.’s holdings in Teck Resources were worth $4,906,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Baystate Wealth Management LLC acquired a new stake in shares of Teck Resources during the 3rd quarter valued at $31,000. JFS Wealth Advisors LLC lifted its position in shares of Teck Resources by 249.0% during the 3rd quarter. JFS Wealth Advisors LLC now owns 841 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 600 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Teck Resources by 187.3% during the 4th quarter. Blue Trust Inc. now owns 1,494 shares of the basic materials company’s stock valued at $64,000 after acquiring an additional 974 shares during the last quarter. Allworth Financial LP lifted its position in shares of Teck Resources by 17.9% during the 3rd quarter. Allworth Financial LP now owns 2,558 shares of the basic materials company’s stock valued at $110,000 after acquiring an additional 388 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in shares of Teck Resources during the 4th quarter valued at $182,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Trading Up 1.7 %

NYSE TECK opened at $50.38 on Friday. Teck Resources Limited has a 1-year low of $34.38 and a 1-year high of $50.93. The company has a current ratio of 1.10, a quick ratio of 0.60 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $25.72 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 6.57 and a beta of 1.15. The firm’s fifty day simple moving average is $43.71 and its 200-day simple moving average is $40.34.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. Teck Resources had a net margin of 16.21% and a return on equity of 9.67%. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.11 billion. As a group, sell-side analysts anticipate that Teck Resources Limited will post 3.34 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.0925 dividend. This represents a $0.37 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date was Thursday, March 14th. Teck Resources’s dividend payout ratio (DPR) is presently 10.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Morgan Stanley reiterated an “overweight” rating and set a $55.00 price objective on shares of Teck Resources in a research report on Thursday, April 11th. Benchmark boosted their target price on shares of Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, April 8th. UBS Group started coverage on shares of Teck Resources in a research note on Tuesday, January 16th. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $62.80.

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.