Thrivent Financial for Lutherans Makes New Investment in Teck Resources Limited (NYSE:TECK)

Thrivent Financial for Lutherans purchased a new position in shares of Teck Resources Limited (NYSE:TECK – Get Rating) (TSE:TECK) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 76,742 shares of the basic materials company’s stock, valued at approximately $2,920,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Credit Agricole S A boosted its stake in Teck Resources by 1.9% in the third quarter. Credit Agricole S A now owns 17,789 shares of the basic materials company’s stock valued at $527,000 after acquiring an additional 334 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Teck Resources by 4.4% during the first quarter. PNC Financial Services Group Inc. now owns 8,067 shares of the basic materials company’s stock worth $327,000 after buying an additional 341 shares during the period. Foundations Investment Advisors LLC boosted its stake in shares of Teck Resources by 3.3% during the fourth quarter. Foundations Investment Advisors LLC now owns 11,684 shares of the basic materials company’s stock worth $442,000 after buying an additional 375 shares during the period. Advisory Services Network LLC boosted its stake in shares of Teck Resources by 2.3% during the first quarter. Advisory Services Network LLC now owns 17,629 shares of the basic materials company’s stock worth $712,000 after buying an additional 391 shares during the period. Finally, Laffer Tengler Investments boosted its stake in shares of Teck Resources by 7.0% during the third quarter. Laffer Tengler Investments now owns 6,215 shares of the basic materials company’s stock worth $189,000 after buying an additional 406 shares during the period. Institutional investors and hedge funds own 56.15% of the company’s stock.

Wall Street Analyst Weigh In

TECK has been the subject of several recent research reports. Bank of America decreased their target price on shares of Teck Resources from C$65.00 to C$62.00 in a research note on Monday, April 3rd. TD Securities decreased their target price on shares of Teck Resources from C$80.00 to C$78.00 in a research note on Thursday, April 27th. Morgan Stanley decreased their target price on shares of Teck Resources from $44.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, March 29th. BMO Capital Markets reduced their price objective on shares of Teck Resources from C$48.00 to C$45.00 in a research report on Tuesday, January 31st. Finally, Stifel Nicolaus raised their price objective on shares of Teck Resources from C$65.00 to C$66.00 in a research report on Tuesday, April 11th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $61.86.

Teck Resources Trading Down 3.7 %

Shares of TECK opened at $43.22 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 0.80. The firm has a 50 day simple moving average of $41.40 and a 200-day simple moving average of $39.48. Teck Resources Limited has a 1-year low of $24.72 and a 1-year high of $49.34. The stock has a market cap of $21.91 billion, a price-to-earnings ratio of 10.39, a price-to-earnings-growth ratio of 1.57 and a beta of 1.06.

Teck Resources (NYSE:TECK – Get Rating) (TSE:TECK) last issued its quarterly earnings data on Tuesday, February 21st. The basic materials company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.17). Teck Resources had a return on equity of 15.71% and a net margin of 16.80%. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Equities analysts forecast that Teck Resources Limited will post 4.67 EPS for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.16%. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Wednesday, June 14th. Teck Resources’s dividend payout ratio (DPR) is 8.89%.

Teck Resources Company Profile

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Teck Resources Limited is a resource company, which engages in the exploration, acquisition, development, production, and sale of natural resources, Its products include steelmaking coal, copper, zinc, industrial products and fertilizers, and other metals. Its project operations are located in Canada, Peru, Chile, and US.