American Century Companies Inc. Has $34.07 Million Stake in Teck Resources Ltd $TECK

American Century Companies Inc. lifted its stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 0.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 843,257 shares of the basic materials company’s stock after purchasing an additional 3,733 shares during the quarter. American Century Companies Inc. owned 0.17% of Teck Resources worth $34,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

Several research analysts have weighed in on TECK shares. Raymond James Financial reaffirmed an “outperform” rating on shares of Teck Resources in a research report on Friday, October 10th. Weiss Ratings raised Teck Resources from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, October 24th. Citigroup reaffirmed a “neutral” rating on shares of Teck Resources in a research report on Wednesday, October 8th. UBS Group upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 3rd. Finally, Scotiabank restated a “sector perform” rating on shares of Teck Resources in a research note on Tuesday. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $54.57.

Teck Resources Stock Performance

Shares of TECK opened at $42.61 on Friday. The company has a market capitalization of $20.48 billion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 0.74 and a beta of 0.90. Teck Resources Ltd has a one year low of $28.32 and a one year high of $48.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.78 and a quick ratio of 2.08. The company’s fifty day moving average price is $42.18 and its 200 day moving average price is $38.53.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.16. The company 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%.The firm’s revenue was up 18.4% compared to the same quarter last year. During the same period last year, the business posted $0.60 earnings per share. As a group, analysts expect that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a $0.125 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.50 annualized dividend and a yield of 1.2%. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio (DPR) is presently 19.66%.

Teck Resources 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.