LGT Group Foundation Invests $425,000 in Teck Resources Limited (NYSE:TECK)

LGT Group Foundation acquired a new stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,500 shares of the basic materials company's stock, valued at approximately $425,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new position in shares of Teck Resources during the fourth quarter worth approximately $25,000. Global Trust Asset Management LLC acquired a new position in Teck Resources during the 4th quarter worth $27,000. FPC Investment Advisory Inc. bought a new position in shares of Teck Resources in the fourth quarter worth $27,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Teck Resources during the third quarter valued at $40,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Teck Resources by 342.8% during the fourth quarter. Jones Financial Companies Lllp now owns 1,758 shares of the basic materials company's stock valued at $71,000 after purchasing an additional 1,361 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TECK shares. National Bank Financial lowered shares of Teck Resources from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, December 10th. UBS Group cut shares of Teck Resources from a "buy" rating to a "neutral" rating in a report on Monday, November 11th. Raymond James dropped their target price on Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. cut their target price on Teck Resources from $55.00 to $51.00 and set an "overweight" rating for the company in a research report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $65.38.

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Teck Resources Stock Down 2.4 %

NYSE:TECK traded down $0.99 during trading hours on Friday, hitting $39.79. 5,048,392 shares of the stock traded hands, compared to its average volume of 3,124,128. The firm has a 50 day moving average price of $41.82 and a 200 day moving average price of $45.35. The firm has a market cap of $19.76 billion, a price-to-earnings ratio of 72.34 and a beta of 0.93. Teck Resources Limited has a fifty-two week low of $37.75 and a fifty-two week high of $55.13. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) 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 the consensus estimate of $2.58 billion. Equities research analysts anticipate that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.0879 per share. This represents a $0.35 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources's payout ratio is 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.