Prudential PLC Buys Shares of 10,531 Teck Resources Limited (NYSE:TECK)

Prudential PLC purchased a new position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,531 shares of the basic materials company’s stock, valued at approximately $426,000.

Several other hedge funds also recently made changes to their positions in the business. Stonebridge Financial Group LLC bought a new stake in Teck Resources during the fourth quarter worth about $25,000. Global Trust Asset Management LLC acquired a new position in shares of Teck Resources during the 4th quarter worth approximately $27,000. FPC Investment Advisory Inc. bought a new stake in shares of Teck Resources during the 4th quarter worth approximately $27,000. Community Bank N.A. acquired a new stake in shares of Teck Resources in the 4th quarter valued at approximately $33,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Teck Resources in the third quarter valued at $40,000. 78.06% of the stock is owned by institutional investors.

Teck Resources Trading Down 4.6 %

TECK stock opened at $28.95 on Wednesday. Teck Resources Limited has a 52 week low of $28.35 and a 52 week high of $55.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The company’s 50-day simple moving average is $40.00 and its 200 day simple moving average is $43.85. The company has a market capitalization of $14.32 billion, a PE ratio of 52.63 and a beta of 0.81.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. As a group, sell-side analysts anticipate that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.0879 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.21%. Teck Resources’s payout ratio is 61.82%.

Wall Street Analysts Forecast Growth

TECK has been the topic of several analyst reports. Bank of America upped their price target on shares of Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Desjardins began coverage on shares of Teck Resources in a research note on Friday, April 4th. They issued a “buy” rating for the company. JPMorgan Chase & Co. lowered their price target on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Raymond James cut their price objective on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. Finally, National Bankshares reissued a “sector perform” rating on shares of Teck Resources in a report on Wednesday, April 2nd. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.22.

About Teck Resources

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.