Country Club Bank Cuts Stock Position in Teck Resources Limited (NYSE:TECK)

Country Club Bank trimmed its holdings in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 19.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,912 shares of the basic materials company's stock after selling 8,742 shares during the quarter. Country Club Bank's holdings in Teck Resources were worth $1,489,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Trust Asset Management LLC bought a new stake in shares of Teck Resources in the 4th quarter valued at $27,000. Eastern Bank bought a new position in shares of Teck Resources in the third quarter valued at approximately $39,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Teck Resources in the 3rd quarter worth $40,000. Bruce G. Allen Investments LLC grew its position in Teck Resources by 77.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company's stock worth $46,000 after purchasing an additional 383 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Teck Resources during the fourth quarter valued at approximately $117,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TECK shares. Raymond James decreased their target price 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. National Bank Financial lowered shares of Teck Resources from an "outperform" rating to a "sector perform" rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. decreased their target price on Teck Resources from $55.00 to $51.00 and set an "overweight" rating on the stock in a research note on Thursday, January 16th. StockNews.com upgraded Teck Resources from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft lowered Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 price objective on the stock. in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Teck Resources currently has an average rating of "Moderate Buy" and a consensus price target of $65.38.

Teck Resources Trading Up 1.0 %

Shares of NYSE TECK traded up $0.45 during midday trading on Friday, hitting $43.04. 4,561,185 shares of the company traded hands, compared to its average volume of 2,856,734. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. Teck Resources Limited has a 12-month low of $36.50 and a 12-month high of $55.13. The stock has a 50-day moving average price of $42.49 and a 200 day moving average price of $45.97. The firm has a market cap of $21.46 billion, a P/E ratio of 65.21 and a beta of 1.02.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a $0.0895 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.83%. Teck Resources's dividend payout ratio (DPR) is 53.03%.

Teck Resources Profile

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.