Boston Partners Purchases 113,431 Shares of Teck Resources Ltd $TECK

Boston Partners increased its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,365,206 shares of the basic materials company’s stock after acquiring an additional 113,431 shares during the quarter. Boston Partners owned about 1.94% of Teck Resources worth $378,167,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in Teck Resources by 69.2% in the first quarter. Smartleaf Asset Management LLC now owns 856 shares of the basic materials company’s stock valued at $32,000 after buying an additional 350 shares during the period. Costello Asset Management INC acquired a new position in shares of Teck Resources during the 1st quarter worth about $33,000. Banque Cantonale Vaudoise bought a new stake in shares of Teck Resources in the 1st quarter valued at about $36,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Teck Resources in the 2nd quarter valued at about $49,000. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Teck Resources by 102.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 668 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Stock Up 2.8%

Shares of Teck Resources stock opened at $42.27 on Wednesday. The firm has a market cap of $20.31 billion, a PE ratio of 23.74, a P/E/G ratio of 0.74 and a beta of 0.90. The business’s 50 day simple moving average is $41.98 and its 200 day simple moving average is $38.44. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.08 and a current ratio of 2.78. Teck Resources Ltd has a 52-week low of $28.32 and a 52-week high of $48.47.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.16. The business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.93 billion. Teck Resources had a return on equity of 4.14% and a net margin of 11.93%.Teck Resources’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 earnings per share. On average, analysts predict that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a dividend of $0.125 per share. The ex-dividend date is Monday, December 15th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio is 19.66%.

Analyst Ratings Changes

Several brokerages have recently issued reports on TECK. JPMorgan Chase & Co. boosted their price target on shares of Teck Resources from $41.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Canaccord Genuity Group lowered Teck Resources from a “buy” rating to a “hold” rating in a report on Wednesday, October 8th. UBS Group raised Teck Resources from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft upgraded Teck Resources from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a report on Monday, September 8th. Finally, Weiss Ratings upgraded Teck Resources from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Teck Resources currently has an average rating of “Hold” and an average price target of $54.00.

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.