Crossmark Global Holdings Inc. Increases Stake in Teck Resources Limited (NYSE:TECK)

Crossmark Global Holdings Inc. boosted its stake in Teck Resources Limited (NYSE:TECKFree Report) (TSE:TECK) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,569 shares of the basic materials company’s stock after buying an additional 564 shares during the period. Crossmark Global Holdings Inc.’s holdings in Teck Resources were worth $912,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Teck Resources by 1.4% during the third quarter. Vanguard Group Inc. now owns 15,973,504 shares of the basic materials company’s stock valued at $688,298,000 after purchasing an additional 224,658 shares in the last quarter. Boston Partners boosted its holdings in shares of Teck Resources by 28.8% during the 4th quarter. Boston Partners now owns 10,881,781 shares of the basic materials company’s stock valued at $484,995,000 after buying an additional 2,432,378 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Teck Resources by 45.7% during the 4th quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock valued at $280,491,000 after buying an additional 2,080,295 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Teck Resources by 2.8% in the 4th quarter. CIBC Asset Management Inc now owns 6,388,652 shares of the basic materials company’s stock worth $270,918,000 after buying an additional 174,492 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of Teck Resources by 6.4% in the 4th quarter. National Bank of Canada FI now owns 4,187,131 shares of the basic materials company’s stock worth $171,599,000 after acquiring an additional 252,468 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Read Our Latest Report on TECK

Teck Resources Stock Up 0.6 %

TECK stock opened at $49.46 on Tuesday. The stock has a market capitalization of $25.30 billion, a P/E ratio of 21.89, a P/E/G ratio of 10.88 and a beta of 1.08. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.49 and a quick ratio of 0.86. Teck Resources Limited has a 1-year low of $34.38 and a 1-year high of $55.13. The business has a fifty day moving average price of $49.67 and a 200-day moving average price of $43.47.

Teck Resources (NYSE:TECKGet Free Report) (TSE:TECK) last released its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.31). The business had revenue of $2.96 billion during 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%. Equities analysts forecast that Teck Resources Limited will post 2.18 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be given a dividend of $0.0911 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.36 dividend on an annualized basis and a yield of 0.74%. Teck Resources’s dividend payout ratio (DPR) is 16.37%.

Teck Resources Profile

(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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