Union Bancaire Privee UBP SA Purchases 14,924 Shares of Teck Resources Ltd $TECK

Union Bancaire Privee UBP SA grew its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 172.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,560 shares of the basic materials company’s stock after purchasing an additional 14,924 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in Teck Resources were worth $1,128,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in TECK. Norges Bank bought a new position in shares of Teck Resources during the second quarter worth approximately $437,657,000. 1832 Asset Management L.P. boosted its stake in Teck Resources by 1,555.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 5,738,457 shares of the basic materials company’s stock valued at $231,719,000 after purchasing an additional 5,391,907 shares during the period. Principal Financial Group Inc. grew its holdings in Teck Resources by 36.1% in the 3rd quarter. Principal Financial Group Inc. now owns 16,879,229 shares of the basic materials company’s stock valued at $740,604,000 after buying an additional 4,474,637 shares in the last quarter. Wellington Management Group LLP grew its holdings in Teck Resources by 264.5% in the 3rd quarter. Wellington Management Group LLP now owns 5,781,060 shares of the basic materials company’s stock valued at $253,695,000 after buying an additional 4,194,868 shares in the last quarter. Finally, Pentwater Capital Management LP increased its position in Teck Resources by 7,150.0% during the 3rd quarter. Pentwater Capital Management LP now owns 2,900,000 shares of the basic materials company’s stock worth $127,281,000 after buying an additional 2,860,000 shares during the period. Institutional investors own 78.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Raymond James Financial downgraded Teck Resources from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 14th. Citigroup upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating in a research note on Monday, February 2nd. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a research report on Tuesday, February 24th. TD Securities reiterated a “hold” rating on shares of Teck Resources in a research note on Monday, February 23rd. Finally, Benchmark boosted their price objective on shares of Teck Resources from $48.00 to $67.00 and gave the company a “buy” rating in a report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $57.00.

Teck Resources Stock Performance

NYSE:TECK opened at $45.35 on Friday. The company has a market cap of $21.83 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 2.76 and a beta of 0.77. Teck Resources Ltd has a fifty-two week low of $28.32 and a fifty-two week high of $62.41. 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 stock has a fifty day moving average price of $54.64 and a 200-day moving average price of $47.02.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, February 19th. The basic materials company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.39. The company had revenue of $2.23 billion for 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%.Teck Resources’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business earned $0.45 earnings per share. As a group, equities analysts anticipate that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, March 13th. Teck Resources’s dividend payout ratio is presently 18.32%.

Teck Resources 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.