Teck Resources Limited (NYSE:TECK) Position Boosted by Metis Global Partners LLC

Metis Global Partners LLC grew its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 9.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,956 shares of the basic materials company’s stock after purchasing an additional 3,632 shares during the period. Metis Global Partners LLC’s holdings in Teck Resources were worth $1,701,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Principal Financial Group Inc. boosted its position in shares of Teck Resources by 21.7% during the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock valued at $388,507,000 after purchasing an additional 1,326,241 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Teck Resources by 2.0% during the 4th quarter. CIBC Asset Management Inc now owns 6,623,228 shares of the basic materials company’s stock valued at $269,956,000 after purchasing an additional 127,348 shares in the last quarter. FMR LLC boosted its position in shares of Teck Resources by 72.8% during the 3rd quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock valued at $189,848,000 after purchasing an additional 1,531,563 shares in the last quarter. Regal Partners Ltd boosted its holdings in shares of Teck Resources by 1.4% in the third quarter. Regal Partners Ltd now owns 2,728,980 shares of the basic materials company’s stock worth $142,562,000 after buying an additional 38,949 shares during the period. Finally, Swedbank AB acquired a new position in shares of Teck Resources in the fourth quarter worth about $103,878,000. Institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on TECK shares. JPMorgan Chase & Co. decreased their target price on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Raymond James decreased their target price on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. National Bank Financial cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Finally, UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Teck Resources presently has an average rating of “Moderate Buy” and a consensus price target of $65.38.

Teck Resources Price Performance

NYSE TECK opened at $39.52 on Tuesday. The company has a 50 day simple moving average of $41.90 and a 200-day simple moving average of $45.55. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The firm has a market capitalization of $19.63 billion, a price-to-earnings ratio of 71.86 and a beta of 1.02. Teck Resources Limited has a 52-week low of $38.69 and a 52-week high of $55.13.

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

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.0879 per share. This represents a $0.35 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources’s payout ratio is presently 61.82%.

Teck Resources Company 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.