ABN Amro Investment Solutions Has $24.47 Million Position in Teck Resources Ltd $TECK

ABN Amro Investment Solutions lifted its stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 156.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 510,989 shares of the basic materials company’s stock after purchasing an additional 311,694 shares during the quarter. ABN Amro Investment Solutions’ holdings in Teck Resources were worth $24,471,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of TECK. Principal Financial Group Inc. increased its holdings in shares of Teck Resources by 36.1% in the third quarter. Principal Financial Group Inc. now owns 16,879,229 shares of the basic materials company’s stock valued at $740,604,000 after purchasing an additional 4,474,637 shares in the last quarter. Wellington Management Group LLP boosted its stake in Teck Resources by 264.5% in the third quarter. Wellington Management Group LLP now owns 5,781,060 shares of the basic materials company’s stock valued at $253,695,000 after acquiring an additional 4,194,868 shares during the last quarter. Pentwater Capital Management LP boosted its stake in Teck Resources by 7,150.0% in the third quarter. Pentwater Capital Management LP now owns 2,900,000 shares of the basic materials company’s stock valued at $127,281,000 after acquiring an additional 2,860,000 shares during the last quarter. Maple Rock Capital Partners Inc. bought a new position in Teck Resources in the third quarter valued at approximately $88,601,000. Finally, Temasek Holdings Private Ltd boosted its stake in Teck Resources by 47.2% in the third quarter. Temasek Holdings Private Ltd now owns 5,250,004 shares of the basic materials company’s stock valued at $230,423,000 after acquiring an additional 1,682,625 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analyst Upgrades and Downgrades

TECK has been the topic of a number of recent analyst reports. Zacks Research cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Teck Resources in a research report on Friday, May 15th. TD Securities reissued a “hold” rating on shares of Teck Resources in a research report on Friday, April 24th. Benchmark lifted their price target on shares of Teck Resources from $48.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Teck Resources from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $59.17.

Teck Resources Stock Up 3.0%

Shares of TECK stock opened at $61.14 on Thursday. The company has a current ratio of 2.83, a quick ratio of 2.16 and a debt-to-equity ratio of 0.13. Teck Resources Ltd has a 1 year low of $30.98 and a 1 year high of $67.67. The firm’s fifty day moving average price is $55.90 and its two-hundred day moving average price is $51.65. The firm has a market capitalization of $29.47 billion, a P/E ratio of 22.39, a PEG ratio of 4.35 and a beta of 0.86.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, February 19th. The basic materials company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.39. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.28 billion. Teck Resources had a net margin of 14.91% and a return on equity of 7.94%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 EPS. On average, equities analysts predict that Teck Resources Ltd will post 2.68 EPS for the current fiscal year.

Teck Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.125 per share. The ex-dividend date is Monday, June 15th. This represents a $0.50 annualized dividend and a dividend yield of 0.8%. Teck Resources’s payout ratio is currently 13.55%.

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.