Teck Resources Ltd $TECK Shares Purchased by Addenda Capital Inc.

Addenda Capital Inc. grew its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 189.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 548,521 shares of the basic materials company’s stock after purchasing an additional 358,756 shares during the period. Addenda Capital Inc. owned 0.11% of Teck Resources worth $24,075,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in Teck Resources during the second quarter valued at approximately $437,657,000. Boston Partners grew its stake in Teck Resources by 1.2% in the 2nd quarter. Boston Partners now owns 9,365,206 shares of the basic materials company’s stock valued at $378,167,000 after buying an additional 113,431 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Teck Resources by 32.7% in the 2nd quarter. Mackenzie Financial Corp now owns 7,989,715 shares of the basic materials company’s stock worth $323,311,000 after acquiring an additional 1,969,286 shares during the period. Hancock Prospecting Pty Ltd lifted its position in Teck Resources by 19.1% during the 2nd quarter. Hancock Prospecting Pty Ltd now owns 7,695,949 shares of the basic materials company’s stock worth $310,762,000 after acquiring an additional 1,232,373 shares during the last quarter. Finally, TD Asset Management Inc boosted its holdings in Teck Resources by 0.4% during the second quarter. TD Asset Management Inc now owns 6,032,354 shares of the basic materials company’s stock valued at $243,460,000 after acquiring an additional 25,489 shares during the period. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Trading Up 2.4%

TECK opened at $45.30 on Friday. The firm’s fifty day moving average is $42.73 and its two-hundred day moving average is $39.25. The firm has a market cap of $21.77 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 0.64 and a beta of 0.83. Teck Resources Ltd has a twelve month low of $28.32 and a twelve month high of $46.46. 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 (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.16. Teck Resources had a return on equity of 4.14% and a net margin of 11.93%.The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same period in the previous year, the company posted $0.60 earnings per share. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. Equities research analysts anticipate that Teck Resources Ltd will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a $0.125 dividend. The ex-dividend date is Monday, December 15th. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.1%. Teck Resources’s dividend payout ratio (DPR) is presently 20.22%.

Wall Street Analysts Forecast Growth

TECK has been the topic of several research analyst reports. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a report on Tuesday, November 25th. Veritas lowered Teck Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Natl Bk Canada lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. Benchmark reaffirmed a “buy” rating on shares of Teck Resources in a research report on Thursday, October 23rd. Finally, Weiss Ratings upgraded shares of Teck Resources from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $55.71.

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.