Amundi Asset Management US, Inc. recently announced the acquisition of new stake in Teck Resources Ltd (NYSE:TECK). The institutional investor has increased its shareholding in the Basic Materials company by 19.38% to 11.7 million shares with purchase of 1.9 million shares. This fresh investment now brings its stake to 2.29% valued currently at $494.5 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.12 million to 10.76 million shares. And Boston Partners Global Investors, has lifted its position by 23.29% or 1.6 million shares – to 8.45 million shares.
Currently, there are 519.80M common shares owned by the public and among those 506.05M shares have been available to trade.
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The top 3 mutual fund holders in Teck Resources Ltd are Dodge & Cox International Stock F, Government Pension Fund – Global, and Vanguard Total International Stoc. Dodge & Cox International Stock F owns 14.16 million shares of the company’s stock, all valued at over $598.57 million. Government Pension Fund – Global bought 3.26 million shares to see its total holdings expand to 7.59 million shares valued at over $320.76 million and representing 1.48% of the shares outstanding. Vanguard Total International Stoc bought 60761.0 shares to bring its total holdings to over 6.15 million shares at a value of $259.75 million. Vanguard Total International Stoc now owns shares totaling to 1.20% of the shares outstanding.
However, the script later moved the day high at 39.39, up 2.33%. The company’s stock has a 5-day price change of 3.25% and -0.84% over the past three months. TECK shares are trading -7.64% year to date (YTD), with the 12-month market performance down to -6.68% lower. It has a 12-month low price of $32.48 and touched a high of $49.34 over the same period. TECK has an average intraday trading volume of 3.83 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.41%, 1.38%, and -4.23% respectively.
Institutional ownership of Teck Resources Ltd (NYSE: TECK) shares accounts for 74.73% of the company’s 519.80M shares outstanding. Mutual fund holders own 38.06%, while other institutional holders and individual stakeholders account for 38.31% and — respectively.
It has a market capitalization of $20.29B and a beta (3y monthly) value of 1.15. The stock’s trailing 12-month PE ratio is 12.54, while the earnings-per-share (ttm) stands at $3.11. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.29% over the week and 2.31% over the month.
Analysts forecast that Teck Resources Ltd (TECK) will achieve an EPS of $0.94 for the current quarter, $1.15 for the next quarter and $3.77 for 2024. The lowest estimate earnings-per-share for the quarter is $0.35 while analysts give the company a high EPS estimate of $1.3. Comparatively, EPS for the current quarter was $0.79 a year ago. Earnings per share for the fiscal year are expected to decrease by -42.64%, and 7.09% over the next financial year.
