Maryland State Retirement & Pension System Boosts Stake in Teck Resources Limited (NYSE:TECK)

Maryland State Retirement & Pension System raised its holdings in Teck Resources Limited (NYSE:TECKFree Report) (TSE:TECK) by 1.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,111 shares of the basic materials company’s stock after purchasing an additional 864 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Teck Resources were worth $2,267,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC raised its holdings in shares of Teck Resources by 143.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock valued at $30,000 after buying an additional 386 shares during the period. Creekmur Asset Management LLC purchased a new stake in shares of Teck Resources in the 4th quarter valued at $35,000. Optiver Holding B.V. raised its holdings in shares of Teck Resources by 81.9% in the 4th quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company’s stock valued at $41,000 after buying an additional 438 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of Teck Resources by 69.4% in the 4th quarter. First Horizon Advisors Inc. now owns 1,162 shares of the basic materials company’s stock valued at $49,000 after buying an additional 476 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of Teck Resources by 187.3% in the 4th quarter. Blue Trust Inc. now owns 1,494 shares of the basic materials company’s stock valued at $64,000 after buying an additional 974 shares during the period. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Morgan Stanley boosted their price objective on Teck Resources from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, June 21st. Benchmark boosted their target price 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, JPMorgan Chase & Co. boosted their target price on Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Teck Resources currently has an average rating of “Moderate Buy” and an average target price of $60.33.

Get Our Latest Report on TECK

Teck Resources Trading Up 0.6 %

NYSE:TECK opened at $50.43 on Friday. The stock has a 50-day simple moving average of $49.93 and a 200-day simple moving average of $44.73. The stock has a market cap of $25.76 billion, a P/E ratio of 22.31, a P/E/G ratio of 10.61 and a beta of 1.05. Teck Resources Limited has a 1 year low of $34.38 and a 1 year high of $55.13. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.49.

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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.31). The business had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.99 billion. Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. As a group, analysts anticipate that Teck Resources Limited will post 2.28 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were given a dividend of $0.0911 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.36 annualized dividend and a dividend yield of 0.72%. Teck Resources’s dividend payout ratio is currently 15.93%.

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.

Featured Articles

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

Receive News & Ratings for Teck Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teck Resources and related companies with MarketBeat.com's FREE daily email newsletter.