Geode Capital Management LLC lifted its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 11.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,078,789 shares of the basic materials company's stock after acquiring an additional 211,856 shares during the period. Geode Capital Management LLC owned 0.41% of Teck Resources worth $109,753,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Teck Resources during the 3rd quarter worth $1,937,000. Groupama Asset Managment grew its position in Teck Resources by 6.7% during the third quarter. Groupama Asset Managment now owns 2,319,624 shares of the basic materials company's stock valued at $121,177,000 after acquiring an additional 144,889 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Teck Resources during the third quarter worth about $1,067,000. XTX Topco Ltd purchased a new position in shares of Teck Resources in the 3rd quarter worth about $1,039,000. Finally, Zurich Insurance Group Ltd FI acquired a new position in shares of Teck Resources in the 3rd quarter valued at about $70,549,000. 78.06% of the stock is owned by institutional investors and hedge funds.
Shares of Teck Resources stock opened at $40.12 on Thursday. Teck Resources Limited has a 1-year low of $36.50 and a 1-year high of $55.13. The company has a market capitalization of $20.55 billion, a PE ratio of 60.79 and a beta of 1.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The business has a 50-day moving average of $47.27 and a 200-day moving average of $47.78.
Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter last year, the firm earned $0.57 EPS. Teck Resources's quarterly revenue was down 20.6% on a year-over-year basis. As a group, equities analysts forecast that Teck Resources Limited will post 1.81 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.0895 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.89%. Teck Resources's dividend payout ratio (DPR) is presently 56.06%.
A number of analysts recently issued reports on the stock. National Bank Financial downgraded shares of Teck Resources from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft lowered shares of Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 price objective for the company. in a research report on Friday, October 25th. UBS Group lowered shares of Teck Resources from a "buy" rating to a "neutral" rating in a report on Monday, November 11th. JPMorgan Chase & Co. decreased their price target on shares of Teck Resources from $57.00 to $55.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. Finally, StockNews.com raised Teck Resources from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $65.29.
Read Our Latest Analysis on TECK
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.
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