Rockefeller Capital Management L.P. Boosts Holdings in Teck Resources Limited (NYSE:TECK)

Rockefeller Capital Management L.P. lifted its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,511 shares of the basic materials company’s stock after purchasing an additional 335 shares during the period. Rockefeller Capital Management L.P.’s holdings in Teck Resources were worth $548,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in TECK. CenterBook Partners LP acquired a new position in Teck Resources in the 4th quarter worth $1,996,000. Raymond James Financial Inc. purchased a new stake in shares of Teck Resources during the fourth quarter worth about $14,344,000. APG Asset Management N.V. lifted its stake in shares of Teck Resources by 545.0% in the fourth quarter. APG Asset Management N.V. now owns 287,667 shares of the basic materials company’s stock worth $11,258,000 after acquiring an additional 243,066 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Teck Resources by 167.8% in the fourth quarter. Renaissance Technologies LLC now owns 552,176 shares of the basic materials company’s stock valued at $22,380,000 after purchasing an additional 346,000 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Teck Resources by 4.7% during the 4th quarter. Invesco Ltd. now owns 7,711,727 shares of the basic materials company’s stock valued at $312,556,000 after purchasing an additional 347,235 shares in the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Stock Up 2.9 %

Shares of Teck Resources stock opened at $34.83 on Thursday. Teck Resources Limited has a twelve month low of $28.32 and a twelve month high of $55.13. The stock has a market capitalization of $17.23 billion, a price-to-earnings ratio of 63.32 and a beta of 0.81. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The business’s 50 day simple moving average is $37.85 and its 200-day simple moving average is $42.45.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.58 billion. Equities research analysts forecast that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.0879 per share. This represents a $0.35 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Friday, March 14th. Teck Resources’s payout ratio is 61.82%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TECK. JPMorgan Chase & Co. cut their target price on Teck Resources from $50.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Raymond James reduced their price objective on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. Veritas raised shares of Teck Resources to a “hold” rating in a report on Friday, April 11th. Bank of America upped their target price on shares of Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Finally, UBS Group reiterated a “neutral” rating on shares of Teck Resources in a research note on Tuesday, April 15th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $64.11.

About Teck Resources

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.