M&G PLC Purchases 191,867 Shares of Teck Resources Ltd $TECK

M&G PLC lifted its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 36.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 722,648 shares of the basic materials company’s stock after buying an additional 191,867 shares during the quarter. M&G PLC owned approximately 0.15% of Teck Resources worth $28,906,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in TECK. Vanguard Group Inc. grew its holdings in Teck Resources by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 19,531,542 shares of the basic materials company’s stock worth $711,475,000 after acquiring an additional 215,410 shares in the last quarter. Boston Partners raised its holdings in shares of Teck Resources by 1.1% in the 2nd quarter. Boston Partners now owns 9,352,218 shares of the basic materials company’s stock valued at $377,643,000 after purchasing an additional 100,443 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Teck Resources by 0.4% in the 2nd quarter. TD Asset Management Inc now owns 6,032,354 shares of the basic materials company’s stock worth $243,460,000 after purchasing an additional 25,489 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Teck Resources by 2.3% during the first quarter. Mackenzie Financial Corp now owns 6,020,429 shares of the basic materials company’s stock valued at $219,297,000 after purchasing an additional 137,886 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Teck Resources by 19.5% during the first quarter. Alliancebernstein L.P. now owns 4,189,902 shares of the basic materials company’s stock valued at $152,638,000 after buying an additional 683,836 shares during the period. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Trading Up 1.3%

Shares of Teck Resources stock opened at $42.88 on Wednesday. The firm’s 50 day simple moving average is $41.46 and its two-hundred day simple moving average is $38.02. The firm has a market capitalization of $20.61 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 0.74 and a beta of 0.90. Teck Resources Ltd has a 12-month low of $28.32 and a 12-month high of $48.47. The company has a current ratio of 2.78, a quick ratio of 2.08 and a debt-to-equity ratio of 0.15.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.16. Teck Resources had a net margin of 11.93% and a return on equity of 4.14%. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same period in the previous year, the company earned $0.60 earnings per share. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. Analysts predict that Teck Resources Ltd will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, December 15th. Teck Resources’s payout ratio is currently 19.66%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Cibc World Mkts downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Scotiabank downgraded shares of Teck Resources from an “outperform” rating to a “hold” rating in a report on Thursday, November 6th. UBS Group upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating in a report on Wednesday, September 3rd. Weiss Ratings raised shares of Teck Resources from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, October 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of Teck Resources from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Teck Resources currently has an average rating of “Hold” and a consensus target price of $54.00.

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.