Swiss National Bank Has $63.45 Million Stake in Teck Resources Limited (NYSE:TECK)

Swiss National Bank decreased its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 1.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,498,279 shares of the basic materials company’s stock after selling 28,100 shares during the quarter. Swiss National Bank owned 0.29% of Teck Resources worth $63,450,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in TECK. Commonwealth Equity Services LLC increased its stake in Teck Resources by 7.0% during the third quarter. Commonwealth Equity Services LLC now owns 22,013 shares of the basic materials company’s stock valued at $949,000 after acquiring an additional 1,433 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of Teck Resources by 22.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 12,913 shares of the basic materials company’s stock valued at $556,000 after purchasing an additional 2,400 shares during the period. Raymond James & Associates raised its stake in shares of Teck Resources by 5.0% in the third quarter. Raymond James & Associates now owns 321,893 shares of the basic materials company’s stock valued at $13,870,000 after purchasing an additional 15,218 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Teck Resources by 30.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 7,022 shares of the basic materials company’s stock worth $303,000 after purchasing an additional 1,643 shares during the period. Finally, Stratos Wealth Partners LTD. acquired a new stake in Teck Resources during the third quarter worth $213,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TECK shares. Benchmark increased their price objective on shares of Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. raised their price target on shares of Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. UBS Group started coverage on Teck Resources in a research note on Tuesday, January 16th. They issued a “buy” rating on the stock. Finally, Morgan Stanley restated an “overweight” rating and set a $55.00 target price on shares of Teck Resources in a research report on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.86.

Teck Resources Stock Performance

NYSE:TECK opened at $49.29 on Monday. The stock has a market capitalization of $25.22 billion, a P/E ratio of 21.81, a price-to-earnings-growth ratio of 8.92 and a beta of 1.12. Teck Resources Limited has a 1 year low of $34.38 and a 1 year high of $51.65. The firm has a 50 day moving average of $45.01 and a 200-day moving average of $40.72. The company has a current ratio of 1.49, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.11 billion. As a group, sell-side analysts anticipate that Teck Resources Limited will post 2.67 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be issued a dividend of $0.0911 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Monday, June 17th. Teck Resources’s dividend payout ratio is currently 16.37%.

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.