Teck Resources Limited (NYSE:TECK) is NewGen Asset Management Ltd’s 5th Largest Position

NewGen Asset Management Ltd grew its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 125.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 327,000 shares of the basic materials company’s stock after purchasing an additional 182,000 shares during the quarter. Teck Resources accounts for approximately 7.1% of NewGen Asset Management Ltd’s investment portfolio, making the stock its 5th biggest holding. NewGen Asset Management Ltd’s holdings in Teck Resources were worth $13,822,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of TECK. Ninety One SA PTY Ltd raised its holdings in shares of Teck Resources by 45.1% during the fourth quarter. Ninety One SA PTY Ltd now owns 147,093 shares of the basic materials company’s stock valued at $6,236,000 after purchasing an additional 45,750 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Teck Resources by 45.7% during the fourth quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock valued at $280,491,000 after purchasing an additional 2,080,295 shares during the last quarter. Douglas Lane & Associates LLC raised its holdings in shares of Teck Resources by 54.3% during the fourth quarter. Douglas Lane & Associates LLC now owns 663,366 shares of the basic materials company’s stock valued at $28,040,000 after purchasing an additional 233,361 shares during the last quarter. Pantechnicon Advisors LLP raised its holdings in shares of Teck Resources by 40.1% during the third quarter. Pantechnicon Advisors LLP now owns 465,000 shares of the basic materials company’s stock valued at $20,037,000 after purchasing an additional 133,000 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Teck Resources by 4.6% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 120,841 shares of the basic materials company’s stock valued at $5,191,000 after purchasing an additional 5,304 shares during the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Price Performance

Shares of TECK traded up $0.84 during mid-day trading on Friday, reaching $49.29. The stock had a trading volume of 2,689,323 shares, compared to its average volume of 4,653,079. The firm has a market cap of $25.22 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 8.92 and a beta of 1.12. Teck Resources Limited has a 12 month low of $34.38 and a 12 month high of $51.65. The business has a fifty day moving average of $45.01 and a 200 day moving average of $40.72. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.49.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.11 billion. Teck Resources had a net margin of 10.59% and a return on equity of 7.52%. Equities analysts predict that Teck Resources Limited will post 2.67 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be given 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 dividend yield of 0.74%. Teck Resources’s dividend payout ratio is 16.37%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TECK shares. Benchmark boosted their target price on shares of Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Morgan Stanley restated an “overweight” rating and set a $55.00 target price on shares of Teck Resources in a research report on Thursday, April 11th. JPMorgan Chase & Co. boosted their target price on shares of Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Finally, UBS Group started coverage on shares of Teck Resources in a research report on Tuesday, January 16th. They set a “buy” rating for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Teck Resources has a consensus rating of “Moderate Buy” and a consensus target price of $57.86.

Teck Resources 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.