Envestnet Asset Management Inc. Has $22.69 Million Holdings in Teck Resources Limited (NYSE:TECK)

Envestnet Asset Management Inc. grew its holdings in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 559,873 shares of the basic materials company's stock after purchasing an additional 14,701 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.11% of Teck Resources worth $22,692,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Synergy Asset Management LLC grew its holdings in Teck Resources by 77.7% during the 4th quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company's stock worth $685,000 after acquiring an additional 7,387 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Teck Resources during the third quarter valued at approximately $1,937,000. FNY Investment Advisers LLC increased its position in shares of Teck Resources by 709.5% in the 4th quarter. FNY Investment Advisers LLC now owns 17,000 shares of the basic materials company's stock valued at $689,000 after buying an additional 14,900 shares in the last quarter. Douglas Lane & Associates LLC lifted its holdings in shares of Teck Resources by 10.6% during the 4th quarter. Douglas Lane & Associates LLC now owns 950,612 shares of the basic materials company's stock valued at $38,528,000 after purchasing an additional 91,370 shares in the last quarter. Finally, State Street Corp acquired a new position in shares of Teck Resources in the third quarter valued at approximately $2,500,000. 78.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TECK has been the subject of a number of research reports. Desjardins began coverage on Teck Resources in a report on Friday, April 4th. They set a "buy" rating for the company. Bank of America lifted their price target on Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Raymond James decreased their price objective on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their price target on Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a report on Thursday. Finally, National Bankshares reissued a "sector perform" rating on shares of Teck Resources in a report on Wednesday, April 2nd. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Teck Resources currently has a consensus rating of "Moderate Buy" and an average price target of $64.11.

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Teck Resources Price Performance

Shares of NYSE:TECK opened at $33.66 on Monday. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $16.66 billion, a PE ratio of 61.20 and a beta of 0.81. The firm has a 50 day moving average of $39.35 and a 200-day moving average of $43.35. Teck Resources Limited has a 12 month low of $28.32 and a 12 month high of $55.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The firm had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $2.58 billion. On average, equities research analysts predict that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.0879 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Friday, March 14th. Teck Resources's dividend payout ratio is presently 61.82%.

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.

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