One Capital Management LLC Takes Position in Teck Resources Ltd $TECK

One Capital Management LLC purchased a new stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in the fourth quarter, Holdings Channel reports. The firm purchased 7,454 shares of the basic materials company’s stock, valued at approximately $357,000.

A number of other institutional investors have also made changes to their positions in the company. Essex Financial Services Inc. bought a new stake in shares of Teck Resources in the 4th quarter valued at approximately $214,000. Norges Bank bought a new stake in shares of Teck Resources in the 4th quarter valued at approximately $404,880,000. Geode Capital Management LLC increased its holdings in shares of Teck Resources by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 4,141,019 shares of the basic materials company’s stock valued at $197,326,000 after acquiring an additional 182,251 shares during the last quarter. Employees Retirement System of Texas bought a new stake in shares of Teck Resources in the 4th quarter valued at approximately $2,082,000. Finally, Themes Management Co LLC bought a new stake in shares of Teck Resources in the 4th quarter valued at approximately $237,000. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Price Performance

Shares of TECK opened at $67.26 on Friday. The company has a market cap of $32.43 billion, a P/E ratio of 24.64, a PEG ratio of 4.93 and a beta of 0.89. The stock has a fifty day moving average price of $59.48 and a 200 day moving average price of $53.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16. Teck Resources Ltd has a 12 month low of $30.98 and a 12 month high of $71.25.

Teck Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, June 15th. Teck Resources’s payout ratio is 13.55%.

Analyst Ratings Changes

A number of brokerages recently commented on TECK. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a research note on Tuesday, April 14th. Weiss Ratings upgraded Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Benchmark upped their price objective on Teck Resources from $48.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. Zacks Research downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Finally, TD Securities restated a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $59.17.

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.