Teck Resources Limited (NYSE:TECK) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC raised its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 11.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,078,789 shares of the basic materials company’s stock after buying an additional 211,856 shares during the quarter. Geode Capital Management LLC’s holdings in Teck Resources were worth $109,753,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Daymark Wealth Partners LLC boosted its holdings in shares of Teck Resources by 2.8% in the 3rd quarter. Daymark Wealth Partners LLC now owns 8,774 shares of the basic materials company’s stock valued at $458,000 after buying an additional 242 shares during the period. Candriam S.C.A. boosted its stake in Teck Resources by 4.0% in the second quarter. Candriam S.C.A. now owns 8,897 shares of the basic materials company’s stock valued at $426,000 after acquiring an additional 343 shares during the period. Evergreen Capital Management LLC grew its holdings in shares of Teck Resources by 7.8% during the second quarter. Evergreen Capital Management LLC now owns 5,064 shares of the basic materials company’s stock valued at $243,000 after purchasing an additional 365 shares during the last quarter. Bruce G. Allen Investments LLC raised its position in shares of Teck Resources by 77.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 383 shares during the period. Finally, WR Wealth Planners LLC lifted its holdings in shares of Teck Resources by 17.4% in the 2nd quarter. WR Wealth Planners LLC now owns 2,700 shares of the basic materials company’s stock worth $129,000 after purchasing an additional 400 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

Shares of NYSE:TECK opened at $40.12 on Thursday. The stock has a market cap of $20.55 billion, a price-to-earnings ratio of 60.79 and a beta of 1.03. 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 12 month low of $36.50 and a 12 month high of $55.13. The stock’s 50 day moving average price is $47.27 and its 200 day moving average price is $47.78.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the previous year, the business earned $0.57 EPS. The company’s quarterly revenue was down 20.6% compared to the same quarter last year. Equities research analysts anticipate that Teck Resources Limited will post 1.81 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 Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.0895 per share. The ex-dividend date is Friday, December 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.89%. Teck Resources’s dividend payout ratio (DPR) is 56.06%.

Analysts Set New Price Targets

A number of research analysts recently commented on TECK shares. Citigroup upgraded Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Scotiabank upped their target price on shares of Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. cut 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. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.29.

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.