Charles Schwab Investment Management Inc. Has $72.89 Million Stock Position in Teck Resources Limited (NYSE:TECK)

Charles Schwab Investment Management Inc. boosted its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 14.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,394,120 shares of the basic materials company’s stock after purchasing an additional 173,130 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Teck Resources were worth $72,893,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in shares of Teck Resources in the 2nd quarter valued at $38,000. Eastern Bank acquired a new stake in Teck Resources in the third quarter valued at about $39,000. Bruce G. Allen Investments LLC grew its position in Teck Resources by 77.4% in the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 383 shares during the last quarter. Blue Trust Inc. raised its stake in Teck Resources by 583.1% during the second quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 898 shares in the last quarter. Finally, 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 acquiring an additional 409 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TECK shares. Deutsche Bank Aktiengesellschaft lowered shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a report on Friday, October 25th. Scotiabank upped their price target on shares of Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a report on Tuesday, October 8th. UBS Group downgraded Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. reduced their price target on Teck Resources from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Teck Resources has an average rating of “Moderate Buy” and a consensus price target of $65.29.

Teck Resources Stock Performance

Shares of TECK stock opened at $46.24 on Friday. The stock has a market capitalization of $23.26 billion, a PE ratio of 70.05 and a beta of 1.04. The business’s 50 day simple moving average is $48.87 and its 200 day simple moving average is $48.48. 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 Limited has a one year low of $35.60 and a one year high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.24. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. Teck Resources’s revenue for the quarter was down 20.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.57 earnings per share. As a group, research analysts forecast that Teck Resources Limited will post 1.83 earnings per share for the current year.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.0895 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Friday, December 13th. Teck Resources’s dividend payout ratio (DPR) is presently 56.06%.

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.