Teck Resources Limited (NYSE:TECK) Shares Bought by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. grew its holdings in Teck Resources Limited (NYSE:TECKFree Report) (TSE:TECK) by 2.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,569 shares of the basic materials company’s stock after buying an additional 564 shares during the period. Crossmark Global Holdings Inc.’s holdings in Teck Resources were worth $912,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of TECK. Norges Bank purchased a new stake in shares of Teck Resources in the fourth quarter valued at approximately $172,740,000. Principal Financial Group Inc. grew its holdings in Teck Resources by 16,855.2% in the 4th quarter. Principal Financial Group Inc. now owns 2,640,100 shares of the basic materials company’s stock valued at $112,143,000 after buying an additional 2,624,529 shares in the last quarter. Boston Partners grew its holdings in Teck Resources by 28.8% in the 4th quarter. Boston Partners now owns 10,881,781 shares of the basic materials company’s stock valued at $484,995,000 after buying an additional 2,432,378 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Teck Resources by 45.7% in the 4th quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock worth $280,491,000 after acquiring an additional 2,080,295 shares during the last quarter. Finally, PointState Capital LP raised its holdings in shares of Teck Resources by 546.1% during the 3rd quarter. PointState Capital LP now owns 1,755,731 shares of the basic materials company’s stock worth $75,654,000 after acquiring an additional 1,483,974 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TECK has been the subject of a number of analyst reports. Benchmark upped their price objective on shares of Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a report on Monday, April 8th. JPMorgan Chase & Co. increased their price target 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. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $55.00 price objective on shares of Teck Resources in a report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $57.86.

Check Out Our Latest Stock Analysis on TECK

Teck Resources Stock Performance

NYSE:TECK opened at $49.46 on Tuesday. Teck Resources Limited has a fifty-two week low of $34.38 and a fifty-two week high of $55.13. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.49. The company has a 50 day moving average price of $49.67 and a 200 day moving average price of $43.47. The stock has a market capitalization of $25.30 billion, a P/E ratio of 21.89, a PEG ratio of 10.88 and a beta of 1.08.

Teck Resources (NYSE:TECKGet Free Report) (TSE:TECK) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.31). The firm had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. Equities research analysts forecast that Teck Resources Limited will post 2.18 EPS for the current year.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be paid a dividend of $0.0911 per share. The ex-dividend date is Monday, June 17th. This represents a $0.36 dividend on an annualized basis and a yield of 0.74%. Teck Resources’s dividend payout ratio (DPR) is presently 16.37%.

Teck Resources Profile

(Free Report)

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.

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

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