Mackenzie Financial Corp Lowers Stock Holdings in Teck Resources Ltd $TECK

Mackenzie Financial Corp lowered its stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,721,854 shares of the basic materials company’s stock after selling 267,861 shares during the period. Mackenzie Financial Corp owned about 1.61% of Teck Resources worth $338,663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. ASR Vermogensbeheer N.V. boosted its holdings in shares of Teck Resources by 1.6% in the third quarter. ASR Vermogensbeheer N.V. now owns 16,721 shares of the basic materials company’s stock valued at $734,000 after acquiring an additional 270 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Teck Resources by 72.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 351 shares during the last quarter. CWM LLC lifted its stake in Teck Resources by 22.7% during the third quarter. CWM LLC now owns 2,078 shares of the basic materials company’s stock worth $91,000 after purchasing an additional 384 shares during the last quarter. GSA Capital Partners LLP lifted its stake in Teck Resources by 1.0% in the third quarter. GSA Capital Partners LLP now owns 40,941 shares of the basic materials company’s stock valued at $1,797,000 after buying an additional 409 shares during the last quarter. Finally, VestGen Advisors LLC increased its position in Teck Resources by 7.9% in the 2nd quarter. VestGen Advisors LLC now owns 6,353 shares of the basic materials company’s stock valued at $257,000 after acquiring an additional 467 shares during the period. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

Teck Resources stock opened at $52.44 on Wednesday. The business’s fifty day moving average is $54.60 and its two-hundred day moving average is $46.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.54. The firm has a market cap of $25.24 billion, a P/E ratio of 25.96, a P/E/G ratio of 3.11 and a beta of 0.77. Teck Resources Ltd has a 52 week low of $28.32 and a 52 week high of $62.41.

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

Teck Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.0%. Teck Resources’s payout ratio is currently 17.82%.

Analyst Ratings Changes

Several research firms recently commented on TECK. UBS Group reissued a “buy” rating on shares of Teck Resources in a research note on Tuesday, January 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Teck Resources in a research report on Wednesday, January 21st. National Bank Financial downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a report on Tuesday, February 24th. Finally, Raymond James Financial cut Teck Resources from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $57.00.

About Teck Resources

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.