Swiss Life Asset Management Ltd Purchases 32,494 Shares of Teck Resources Ltd $TECK

Swiss Life Asset Management Ltd grew its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 72.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 77,161 shares of the basic materials company’s stock after purchasing an additional 32,494 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Teck Resources were worth $3,695,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Chesapeake Capital Corp IL bought a new stake in Teck Resources during the fourth quarter valued at approximately $387,000. Sequoia Financial Advisors LLC raised its position in Teck Resources by 7.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 13,377 shares of the basic materials company’s stock worth $641,000 after acquiring an additional 965 shares during the period. Swedbank AB boosted its stake in shares of Teck Resources by 45.9% during the 4th quarter. Swedbank AB now owns 3,243,000 shares of the basic materials company’s stock worth $155,307,000 after acquiring an additional 1,020,000 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Teck Resources by 11.6% during the 4th quarter. Principal Financial Group Inc. now owns 18,832,299 shares of the basic materials company’s stock valued at $902,769,000 after acquiring an additional 1,953,070 shares during the period. Finally, PKO Investment Management Joint Stock Co grew its position in shares of Teck Resources by 35.9% during the 4th quarter. PKO Investment Management Joint Stock Co now owns 18,924 shares of the basic materials company’s stock valued at $908,000 after acquiring an additional 5,000 shares during the period. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Down 2.1%

Shares of Teck Resources stock opened at $65.42 on Friday. Teck Resources Ltd has a fifty-two week low of $30.98 and a fifty-two week high of $67.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.16 and a current ratio of 2.83. The company has a market capitalization of $31.53 billion, a P/E ratio of 23.96, a P/E/G ratio of 4.90 and a beta of 0.86. The company has a fifty day moving average of $55.27 and a 200 day moving average of $51.16.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, February 19th. The basic materials company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.39. Teck Resources had a return on equity of 7.94% and a net margin of 14.91%.The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period last year, the firm earned $0.45 earnings per share. The business’s quarterly revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts anticipate that Teck Resources Ltd will post 2.68 earnings per share for the current fiscal year.

Teck Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, June 15th. Teck Resources’s dividend payout ratio (DPR) is 13.55%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $62.00 price target on shares of Teck Resources in a report on Wednesday, April 15th. TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. Weiss Ratings raised Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, April 24th. Finally, Zacks Research downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $59.17.

Teck Resources Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.