American Century Companies Inc. Has $33.27 Million Holdings in Teck Resources Limited (NYSE:TECK)

American Century Companies Inc. cut its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 820,699 shares of the basic materials company’s stock after selling 1,704 shares during the period. American Century Companies Inc. owned approximately 0.16% of Teck Resources worth $33,266,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Virtu Financial LLC acquired a new stake in shares of Teck Resources during the 4th quarter worth approximately $413,000. Quantbot Technologies LP acquired a new stake in Teck Resources during the fourth quarter worth $2,228,000. TD Private Client Wealth LLC increased its holdings in Teck Resources by 7.9% in the 4th quarter. TD Private Client Wealth LLC now owns 20,921 shares of the basic materials company’s stock valued at $848,000 after buying an additional 1,536 shares during the period. Maryland State Retirement & Pension System raised its stake in shares of Teck Resources by 6.3% in the 4th quarter. Maryland State Retirement & Pension System now owns 55,961 shares of the basic materials company’s stock valued at $2,268,000 after buying an additional 3,294 shares in the last quarter. Finally, Aviso Financial Inc. lifted its holdings in shares of Teck Resources by 2.6% during the 4th quarter. Aviso Financial Inc. now owns 15,171 shares of the basic materials company’s stock worth $615,000 after acquiring an additional 387 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Price Performance

Shares of TECK stock opened at $37.43 on Friday. Teck Resources Limited has a 1 year low of $36.54 and a 1 year high of $55.13. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The firm’s 50 day moving average is $41.56 and its 200-day moving average is $44.64. The firm has a market capitalization of $18.84 billion, a price-to-earnings ratio of 68.05 and a beta of 0.93.

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

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.0879 dividend. This represents a $0.35 annualized dividend and a yield of 0.94%. The ex-dividend date is Friday, March 14th. Teck Resources’s dividend payout ratio is 61.82%.

Wall Street Analyst Weigh In

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