Ninety One UK Ltd Has $47.04 Million Stock Holdings in Teck Resources Limited (NYSE:TECK)

Ninety One UK Ltd decreased its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,112,727 shares of the basic materials company’s stock after selling 67,377 shares during the period. Ninety One UK Ltd’s holdings in Teck Resources were worth $47,035,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Baystate Wealth Management LLC acquired a new stake in Teck Resources during the third quarter worth approximately $31,000. Money Concepts Capital Corp acquired a new stake in Teck Resources during the fourth quarter worth approximately $29,000. JFS Wealth Advisors LLC grew its stake in Teck Resources by 249.0% during the third quarter. JFS Wealth Advisors LLC now owns 841 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 600 shares during the period. Achmea Investment Management B.V. acquired a new stake in Teck Resources during the first quarter worth approximately $37,000. Finally, Covestor Ltd acquired a new stake in Teck Resources during the first quarter worth approximately $53,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. UBS Group assumed coverage on Teck Resources in a research note on Tuesday, January 16th. They set a “buy” rating for the company. Morgan Stanley reiterated an “overweight” rating and issued a $55.00 price target on shares of Teck Resources in a report on Thursday, April 11th. Benchmark increased their price target on Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, JPMorgan Chase & Co. increased their price target on Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $64.36.

Teck Resources Stock Up 1.1 %

TECK stock opened at $47.73 on Friday. Teck Resources Limited has a twelve month low of $34.38 and a twelve month high of $50.46. The company has a quick ratio of 0.60, a current ratio of 1.10 and a debt-to-equity ratio of 0.21. The stock’s 50 day moving average is $42.79 and its 200-day moving average is $40.12. The firm has a market capitalization of $24.37 billion, a PE ratio of 13.92, a P/E/G ratio of 6.64 and a beta of 1.15.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.01. Teck Resources had a return on equity of 9.67% and a net margin of 16.21%. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.11 billion. Sell-side analysts expect that Teck Resources Limited will post 3.43 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $0.0925 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.37 dividend on an annualized basis and a dividend yield of 0.78%. Teck Resources’s dividend payout ratio is presently 10.79%.

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.