Mufg Securities Canada LTD. Purchases 282,713 Shares of Teck Resources Limited (NYSE:TECK)

Mufg Securities Canada LTD. boosted its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 69.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 691,422 shares of the basic materials company’s stock after purchasing an additional 282,713 shares during the period. Mufg Securities Canada LTD.’s holdings in Teck Resources were worth $28,014,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Teck Resources by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company’s stock worth $783,153,000 after buying an additional 58,985 shares during the last quarter. Amundi grew its position in shares of Teck Resources by 5.6% during the 4th quarter. Amundi now owns 14,949,233 shares of the basic materials company’s stock valued at $619,765,000 after acquiring an additional 791,725 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Teck Resources by 21.7% in the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock worth $388,507,000 after purchasing an additional 1,326,241 shares during the period. CIBC Asset Management Inc grew its holdings in Teck Resources by 2.0% during the fourth 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 during the period. Finally, AMF Tjanstepension AB increased its holdings in Teck Resources by 32.2% in the 4th quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company’s stock worth $244,252,000 after acquiring an additional 1,467,516 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Performance

NYSE:TECK opened at $42.75 on Wednesday. Teck Resources Limited has a 1-year low of $36.54 and a 1-year high of $55.13. 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 business has a 50 day moving average of $41.79 and a 200 day moving average of $44.76. The company has a market capitalization of $21.52 billion, a price-to-earnings ratio of 77.73 and a beta of 0.93.

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

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.0879 per share. The ex-dividend date is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.82%. Teck Resources’s dividend payout ratio (DPR) is currently 61.82%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Raymond James cut their target price on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. National Bank Financial downgraded Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Bank of America lifted their price target on Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. dropped their price objective on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Teck Resources currently has an average rating of “Moderate Buy” and a consensus target price of $65.22.

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.