DekaBank Deutsche Girozentrale Has $5.19 Million Holdings in Teck Resources Limited (NYSE:TECK)

DekaBank Deutsche Girozentrale grew its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 120,841 shares of the basic materials company’s stock after purchasing an additional 5,304 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Teck Resources were worth $5,191,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Money Concepts Capital Corp acquired a new position in Teck Resources during the fourth quarter worth $29,000. Baystate Wealth Management LLC acquired a new position in Teck Resources during the third quarter worth $31,000. JFS Wealth Advisors LLC increased its holdings in Teck Resources by 249.0% during the third quarter. JFS Wealth Advisors LLC now owns 841 shares of the basic materials company’s stock worth $36,000 after buying an additional 600 shares during the last quarter. Achmea Investment Management B.V. acquired a new position in Teck Resources during the first quarter worth $37,000. Finally, Belpointe Asset Management LLC increased its holdings in Teck Resources by 263.4% during the first quarter. Belpointe Asset Management LLC now owns 1,381 shares of the basic materials company’s stock worth $50,000 after buying an additional 1,001 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TECK. Benchmark boosted their target price on shares of Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Monday. UBS Group started coverage on shares of Teck Resources in a report on Tuesday, January 16th. They set a “buy” rating on the stock. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $55.00 price objective on shares of Teck Resources in a research report on Thursday. Two 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.21.

Teck Resources Trading Down 1.6 %

Shares of Teck Resources stock opened at $48.57 on Friday. The firm has a 50-day moving average of $41.90 and a 200-day moving average of $39.91. The stock has a market cap of $24.79 billion, a PE ratio of 14.16, a PEG ratio of 6.60 and a beta of 1.15. Teck Resources Limited has a 52-week low of $34.38 and a 52-week high of $50.30. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.60 and a current ratio of 1.10.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.01. The company had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.11 billion. Teck Resources had a net margin of 16.21% and a return on equity of 9.67%. As a group, sell-side analysts forecast that Teck Resources Limited will post 3.61 EPS for the current year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $0.0925 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.37 dividend on an annualized basis and a dividend yield of 0.76%. Teck Resources’s payout ratio is presently 10.79%.

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.