Guardian Partners Inc. Purchases Shares of 30,023 Teck Resources Limited (NYSE:TECK)

Guardian Partners Inc. purchased a new position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 30,023 shares of the basic materials company's stock, valued at approximately $1,245,000.

A number of other large investors also recently modified their holdings of TECK. Amundi increased its position in Teck Resources by 5.6% in the fourth quarter. Amundi now owns 14,949,233 shares of the basic materials company's stock worth $619,765,000 after buying an additional 791,725 shares during the period. Principal Financial Group Inc. grew its position in shares of Teck Resources by 21.7% during the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock worth $388,507,000 after acquiring an additional 1,326,241 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Teck Resources by 2.0% in the fourth quarter. CIBC Asset Management Inc now owns 6,623,228 shares of the basic materials company's stock valued at $269,956,000 after purchasing an additional 127,348 shares during the period. AMF Tjanstepension AB boosted its position in Teck Resources by 32.2% during the 4th quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company's stock worth $244,252,000 after acquiring an additional 1,467,516 shares during the period. Finally, FMR LLC grew its position in Teck Resources by 72.8% in the 3rd quarter. FMR LLC now owns 3,634,430 shares of the basic materials company's stock valued at $189,848,000 after buying an additional 1,531,563 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

TECK has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price objective on shares of Teck Resources from $55.00 to $51.00 and set an "overweight" rating on the stock in a research note on Thursday, January 16th. Bank of America raised their price objective on Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. National Bank Financial lowered Teck Resources from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, December 10th. Finally, Raymond James reduced their target price on Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, January 22nd. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $65.22.

Teck Resources Stock Down 1.9 %

NYSE:TECK traded down $0.77 during mid-day trading on Thursday, reaching $39.35. The stock had a trading volume of 3,712,956 shares, compared to its average volume of 3,116,157. The stock has a market cap of $19.80 billion, a P/E ratio of 71.54 and a beta of 0.93. The business's 50 day moving average is $41.67 and its 200 day moving average is $44.69. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. Teck Resources Limited has a fifty-two week low of $36.54 and a fifty-two week high of $55.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly 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 analyst estimates 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 predict 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 will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.0879 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 annualized dividend and a yield of 0.89%. Teck Resources's dividend payout ratio (DPR) is currently 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.