Bank of Nova Scotia Trust Co. Acquires 8,967 Shares of Teck Resources Limited (NYSE:TECK)

Bank of Nova Scotia Trust Co. raised its stake in shares of Teck Resources Limited (NYSE:TECKFree Report) (TSE:TECK) by 29.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,389 shares of the basic materials company’s stock after acquiring an additional 8,967 shares during the period. Bank of Nova Scotia Trust Co.’s holdings in Teck Resources were worth $1,665,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jade Capital Advisors LLC increased its stake in Teck Resources by 100.0% in the 4th quarter. Jade Capital Advisors LLC now owns 60,000 shares of the basic materials company’s stock worth $2,536,000 after purchasing an additional 30,000 shares during the period. Capstone Investment Advisors LLC bought a new stake in shares of Teck Resources in the 4th quarter valued at approximately $252,000. Stifel Financial Corp boosted its stake in shares of Teck Resources by 1.2% during the fourth quarter. Stifel Financial Corp now owns 162,305 shares of the basic materials company’s stock valued at $6,860,000 after purchasing an additional 1,872 shares during the period. TD Asset Management Inc increased its position in Teck Resources by 3.6% during the 4th quarter. TD Asset Management Inc now owns 3,636,970 shares of the basic materials company’s stock valued at $154,487,000 after purchasing an additional 127,949 shares during the period. Finally, United Services Automobile Association boosted its stake in Teck Resources by 10.8% in the fourth quarter. United Services Automobile Association now owns 15,530 shares of the basic materials company’s stock valued at $656,000 after acquiring an additional 1,516 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

TECK has been the topic of several research reports. JPMorgan Chase & Co. raised their target price on Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Benchmark upped their price objective on Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $55.00 price target on shares of Teck Resources in a research report on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.86.

Get Our Latest Research Report on TECK

Teck Resources Trading Up 1.3 %

Shares of NYSE TECK traded up $0.66 during midday trading on Friday, reaching $52.05. The stock had a trading volume of 2,881,416 shares, compared to its average volume of 3,833,486. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.49. The firm has a market cap of $26.62 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 11.43 and a beta of 1.12. The company’s 50 day moving average price is $48.88 and its 200 day moving average price is $42.69. Teck Resources Limited has a twelve month low of $34.38 and a twelve month high of $55.13.

Teck Resources (NYSE:TECKGet Free Report) (TSE:TECK) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.31). The company had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.99 billion. Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. As a group, sell-side analysts expect that Teck Resources Limited will post 2.18 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be paid a $0.0911 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Monday, June 17th. Teck Resources’s dividend payout ratio is currently 16.37%.

Teck Resources Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Teck Resources (NYSE:TECK)

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