Swedbank AB Purchases Shares of 2,563,000 Teck Resources Limited (NYSE:TECK)

Swedbank AB bought a new position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,563,000 shares of the basic materials company’s stock, valued at approximately $103,878,000. Swedbank AB owned approximately 0.51% of Teck Resources at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Daymark Wealth Partners LLC raised its stake in Teck Resources by 2.8% during the 3rd quarter. Daymark Wealth Partners LLC now owns 8,774 shares of the basic materials company’s stock valued at $458,000 after purchasing an additional 242 shares during the period. Exchange Traded Concepts LLC grew its holdings in Teck Resources by 7.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company’s stock valued at $198,000 after buying an additional 327 shares in the last quarter. Bruce G. Allen Investments LLC raised its position in shares of Teck Resources by 77.4% during the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock valued at $46,000 after buying an additional 383 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Teck Resources by 69.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after buying an additional 409 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its holdings in shares of Teck Resources by 5.7% in the fourth quarter. Park Avenue Securities LLC now owns 8,960 shares of the basic materials company’s stock worth $363,000 after buying an additional 486 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Up 0.5 %

Shares of NYSE TECK opened at $41.06 on Thursday. Teck Resources Limited has a 1-year low of $36.50 and a 1-year high of $55.13. The business has a fifty day moving average price of $43.17 and a 200 day moving average price of $46.25. The stock has a market capitalization of $20.48 billion, a P/E ratio of 62.22 and a beta of 1.05. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a $0.0895 dividend. This represents a $0.36 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Friday, December 13th. Teck Resources’s dividend payout ratio is currently 53.03%.

Analysts Set New Price Targets

Several research firms have weighed in on TECK. Scotiabank raised their price target on Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a report on Tuesday, October 8th. Raymond James reduced their price target on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their price objective on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, UBS Group downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Teck Resources has an average rating of “Moderate Buy” and an average price target of $65.38.

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.