Mufg Securities Canada LTD. Has $28.01 Million Stock Position in Teck Resources Limited (NYSE:TECK)

Mufg Securities Canada LTD. raised its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 69.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 691,422 shares of the basic materials company’s stock after acquiring an additional 282,713 shares during the period. Mufg Securities Canada LTD. owned about 0.14% of Teck Resources worth $28,014,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TECK. Stonebridge Financial Group LLC acquired a new position in Teck Resources in the 4th quarter worth about $25,000. FPC Investment Advisory Inc. bought a new position in Teck Resources in the 4th quarter valued at approximately $27,000. Global Trust Asset Management LLC acquired a new stake in Teck Resources during the 4th quarter worth approximately $27,000. Wilmington Savings Fund Society FSB bought a new stake in Teck Resources during the 3rd quarter worth approximately $40,000. Finally, Community Bank N.A. acquired a new position in Teck Resources in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analysts Set New Price Targets

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

Teck Resources Stock Up 2.0 %

Shares of NYSE:TECK opened at $42.75 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. Teck Resources Limited has a 52-week low of $36.54 and a 52-week high of $55.13. The business’s 50 day simple moving average is $41.79 and its two-hundred day simple moving average is $44.76. The firm has a market cap of $21.52 billion, a P/E ratio of 77.73 and a beta of 0.93.

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

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 yield of 0.82%. Teck Resources’s dividend payout ratio (DPR) is currently 61.82%.

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.