Teck Resources Ltd $TECK Shares Bought by American Century Companies Inc.

American Century Companies Inc. grew its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 4.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 879,591 shares of the basic materials company’s stock after purchasing an additional 36,334 shares during the quarter. American Century Companies Inc. owned approximately 0.18% of Teck Resources worth $38,598,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of TECK. Versant Capital Management Inc purchased a new stake in Teck Resources in the 3rd quarter valued at about $26,000. Smartleaf Asset Management LLC grew its position in Teck Resources by 72.4% during the third quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 351 shares during the period. SouthState Bank Corp purchased a new position in Teck Resources in the third quarter valued at approximately $50,000. Tobam acquired a new position in Teck Resources during the second quarter valued at approximately $62,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Teck Resources by 43.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,741 shares of the basic materials company’s stock valued at $76,000 after purchasing an additional 524 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Performance

Teck Resources stock opened at $50.51 on Friday. The firm has a market capitalization of $24.32 billion, a P/E ratio of 25.01, a P/E/G ratio of 3.26 and a beta of 0.77. The stock has a fifty day moving average price of $54.44 and a two-hundred day moving average price of $45.75. Teck Resources Ltd has a 52-week low of $28.32 and a 52-week high of $62.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.54 and a quick ratio of 1.91.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Thursday, February 19th. The basic materials company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.39. Teck Resources had a net margin of 12.98% and a return on equity of 5.90%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, analysts anticipate that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, March 13th. Teck Resources’s dividend payout ratio (DPR) is presently 17.82%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a research report on Tuesday, February 24th. Weiss Ratings restated a “hold (c)” rating on shares of Teck Resources in a research report on Wednesday, January 21st. TD Securities restated a “hold” rating on shares of Teck Resources in a research report on Monday, February 23rd. Truist Financial set a $67.00 price objective on shares of Teck Resources in a research note on Monday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $46.00 target price on shares of Teck Resources in a report on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $58.00.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.