Teck Resources Limited (NYSE:TECK) Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp grew its holdings in shares of Teck Resources Limited (NYSE:TECK – Get Rating) (TSE:TECK) by 912.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,310 shares of the basic materials company’s stock after purchasing an additional 2,983 shares during the period. Fifth Third Bancorp’s holdings in Teck Resources were worth $101,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Teck Resources by 2.2% during the first quarter. Vanguard Group Inc. now owns 14,801,956 shares of the basic materials company’s stock valued at $597,851,000 after purchasing an additional 318,294 shares during the period. Egerton Capital UK LLP boosted its stake in Teck Resources by 274.3% during the second quarter. Egerton Capital UK LLP now owns 10,301,465 shares of the basic materials company’s stock valued at $314,916,000 after buying an additional 7,549,057 shares in the last quarter. FMR LLC boosted its stake in Teck Resources by 594.7% during the second quarter. FMR LLC now owns 9,630,011 shares of the basic materials company’s stock valued at $294,466,000 after buying an additional 8,243,806 shares in the last quarter. Bank of Nova Scotia boosted its stake in Teck Resources by 1.0% during the second quarter. Bank of Nova Scotia now owns 4,115,694 shares of the basic materials company’s stock valued at $125,839,000 after buying an additional 41,287 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its stake in Teck Resources by 100.0% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,800,618 shares of the basic materials company’s stock valued at $116,058,000 after buying an additional 1,900,718 shares in the last quarter. 56.15% of the stock is owned by institutional investors and hedge funds.

Teck Resources Stock Up 2.6 %

Shares of Teck Resources stock opened at $41.62 on Friday. The stock has a 50-day moving average price of $36.40 and a 200 day moving average price of $33.12. The company has a market cap of $21.01 billion, a P/E ratio of 6.33, a P/E/G ratio of 1.73 and a beta of 1.07. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.26. Teck Resources Limited has a 1 year low of $24.72 and a 1 year high of $45.90.

Teck Resources (NYSE:TECK – Get Rating) (TSE:TECK) last announced its quarterly earnings data on Thursday, October 27th. The basic materials company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.02. The firm had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.36 billion. Teck Resources had a return on equity of 22.53% and a net margin of 22.99%. As a group, analysts expect that Teck Resources Limited will post 7.05 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Thursday, December 15th were paid a dividend of $0.0939 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Wednesday, December 14th. Teck Resources’s dividend payout ratio (DPR) is presently 5.63%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Canaccord Genuity Group cut Teck Resources from a “buy” rating to a “hold” rating and decreased their target price for the company from C$51.00 to C$46.00 in a research note on Friday, October 28th. Royal Bank of Canada decreased their target price on Teck Resources from C$60.00 to C$52.00 in a research note on Wednesday, November 2nd. Barclays raised their target price on Teck Resources from C$40.00 to C$47.00 in a research note on Monday, October 17th. Scotiabank decreased their price target on Teck Resources from C$55.00 to C$53.00 in a research report on Friday, October 28th. Finally, Citigroup increased their price target on Teck Resources from C$45.00 to C$55.00 in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.38.

Teck Resources Company Profile

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Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, and Energy segments. The company's principal products include copper, zinc, steelmaking coal, and blended bitumen.