Gabelli Funds LLC Has $2.64 Million Position in Teck Resources Limited (NYSE:TECK)

Gabelli Funds LLC boosted its holdings in shares of Teck Resources Limited (NYSE:TECKFree Report) (TSE:TECK) by 13.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,350 shares of the basic materials company’s stock after buying an additional 7,350 shares during the period. Gabelli Funds LLC’s holdings in Teck Resources were worth $2,636,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Optiver Holding B.V. boosted its stake in Teck Resources by 81.9% during the fourth quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company’s stock worth $41,000 after buying an additional 438 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Teck Resources by 69.4% during the fourth quarter. First Horizon Advisors Inc. now owns 1,162 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 476 shares during the period. Blue Trust Inc. lifted its holdings in shares of Teck Resources by 187.3% during the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the basic materials company’s stock valued at $64,000 after acquiring an additional 974 shares during the period. Gold Investment Management Ltd. bought a new position in shares of Teck Resources during the fourth quarter valued at $110,000. Finally, Pacer Advisors Inc. bought a new position in shares of Teck Resources during the fourth quarter valued at $182,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TECK shares. Benchmark lifted their price objective on Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a report on Monday, April 8th. JPMorgan Chase & Co. lifted their price objective on Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Finally, Morgan Stanley reissued an “overweight” rating and set a $55.00 price objective on shares of Teck Resources in a report on Thursday, April 11th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Teck Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.86.

Get Our Latest Stock Report on TECK

Teck Resources Stock Performance

Teck Resources stock opened at $49.17 on Friday. The stock has a 50-day simple moving average of $49.60 and a 200 day simple moving average of $43.33. The company has a quick ratio of 0.86, a current ratio of 1.49 and a debt-to-equity ratio of 0.20. Teck Resources Limited has a 12-month low of $34.38 and a 12-month high of $55.13. The stock has a market capitalization of $25.15 billion, a price-to-earnings ratio of 21.76, a P/E/G ratio of 10.88 and a beta of 1.08.

Teck Resources (NYSE:TECKGet Free Report) (TSE:TECK) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.31). The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.99 billion. Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. On average, research analysts anticipate that Teck Resources Limited will post 2.18 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The company 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. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.36 annualized dividend and a yield of 0.74%. Teck Resources’s dividend payout ratio is currently 16.37%.

About Teck Resources

(Free Report)

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.

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Institutional Ownership by Quarter for Teck Resources (NYSE:TECK)

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