Teck Resources Limited (NYSE:TECK) Stock Holdings Lifted by Scheer Rowlett & Associates Investment Management Ltd.

Scheer Rowlett & Associates Investment Management Ltd. increased its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 174,703 shares of the basic materials company’s stock after acquiring an additional 3,370 shares during the quarter. Scheer Rowlett & Associates Investment Management Ltd.’s holdings in Teck Resources were worth $7,074,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TECK. Synergy Asset Management LLC lifted its holdings in shares of Teck Resources by 77.7% in the fourth quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company’s stock valued at $685,000 after purchasing an additional 7,387 shares in the last quarter. Forest Avenue Capital Management LP lifted its stake in Teck Resources by 3.7% in the 3rd quarter. Forest Avenue Capital Management LP now owns 720,920 shares of the basic materials company’s stock worth $37,661,000 after acquiring an additional 25,430 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Teck Resources in the 3rd quarter worth about $1,937,000. Intech Investment Management LLC boosted its position in Teck Resources by 20.9% during the 3rd quarter. Intech Investment Management LLC now owns 98,145 shares of the basic materials company’s stock worth $5,132,000 after acquiring an additional 16,981 shares during the period. Finally, CIBC Asset Management Inc grew its stake in Teck Resources by 2.6% during the 3rd quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company’s stock valued at $341,337,000 after acquiring an additional 165,759 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on TECK shares. UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. JPMorgan Chase & Co. cut their price objective on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. National Bank Financial downgraded Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Finally, Raymond James cut their price target on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Teck Resources currently has an average rating of “Moderate Buy” and an average target price of $65.38.

Teck Resources Price Performance

Shares of TECK stock opened at $39.79 on Friday. The company has a market capitalization of $19.76 billion, a P/E ratio of 72.34 and a beta of 0.93. Teck Resources Limited has a 12 month low of $37.75 and a 12 month high of $55.13. The stock has a 50 day moving average of $41.82 and a two-hundred day moving average of $45.35. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.58 billion. As a group, equities analysts expect that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.0879 dividend. This represents a $0.35 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources’s payout ratio is 61.82%.

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.