Aviso Financial Inc. Acquires 387 Shares of Teck Resources Limited (NYSE:TECK)

Aviso Financial Inc. raised its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.6% during the fourth quarter, HoldingsChannel reports. The fund owned 15,171 shares of the basic materials company’s stock after purchasing an additional 387 shares during the quarter. Aviso Financial Inc.’s holdings in Teck Resources were worth $615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Swedbank AB bought a new stake in shares of Teck Resources during the 4th quarter valued at $103,878,000. FMR LLC increased its position in shares of Teck Resources by 72.8% during the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock valued at $189,848,000 after buying an additional 1,531,563 shares during the period. AMF Tjanstepension AB increased its position in shares of Teck Resources by 32.2% during the fourth quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company’s stock valued at $244,252,000 after buying an additional 1,467,516 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in shares of Teck Resources in the third quarter worth about $70,549,000. Finally, Principal Financial Group Inc. boosted its position in shares of Teck Resources by 21.7% in the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock valued at $388,507,000 after acquiring an additional 1,326,241 shares during the period. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Up 4.1 %

Shares of TECK opened at $42.16 on Friday. Teck Resources Limited has a fifty-two week low of $36.54 and a fifty-two week high of $55.13. The firm has a market cap of $20.94 billion, a price-to-earnings ratio of 76.66 and a beta of 0.93. The firm has a 50 day moving average price of $41.68 and a 200-day moving average price of $45.02. 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 (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, topping 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, equities research analysts forecast that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.0879 per share. This represents a $0.35 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources’s dividend payout ratio is presently 61.82%.

Wall Street Analysts Forecast Growth

TECK has been the topic of a number of recent analyst reports. 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 raised their price target on Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday, March 10th. JPMorgan Chase & Co. cut their price objective on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Finally, Raymond James lowered their target price on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.22.

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.