Mirabella Financial Services LLP Lowers Stock Holdings in Teck Resources Limited (NYSE:TECK)

Mirabella Financial Services LLP cut its stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 61.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,864 shares of the basic materials company's stock after selling 26,400 shares during the period. Mirabella Financial Services LLP's holdings in Teck Resources were worth $683,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TECK. Stonebridge Financial Group LLC bought a new position in shares of Teck Resources during the fourth quarter valued at about $25,000. Global Trust Asset Management LLC bought a new position in Teck Resources during the 4th quarter worth approximately $27,000. FPC Investment Advisory Inc. purchased a new position in Teck Resources in the 4th quarter worth approximately $27,000. Community Bank N.A. purchased a new position in Teck Resources in the 4th quarter worth approximately $33,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Teck Resources in the third quarter valued at approximately $40,000. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Desjardins began coverage on Teck Resources in a research note on Friday, April 4th. They issued a "buy" rating on the stock. National Bankshares raised Teck Resources from a "sector perform" rating to an "outperform" rating in a research report on Thursday. UBS Group reissued a "neutral" rating on shares of Teck Resources in a research note on Tuesday, April 15th. Finally, BMO Capital Markets started coverage on shares of Teck Resources in a report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $64.11.

Teck Resources Stock Performance

TECK traded down $0.59 during mid-day trading on Friday, reaching $35.65. 3,668,021 shares of the company traded hands, compared to its average volume of 3,178,955. The company's fifty day moving average price is $37.71 and its 200-day moving average price is $42.34. The stock has a market capitalization of $17.57 billion, a P/E ratio of 64.82 and a beta of 0.81. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. Teck Resources Limited has a 52-week low of $28.32 and a 52-week high of $55.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.18. The company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $2.19 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. On average, sell-side analysts expect that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $0.0901 dividend. The ex-dividend date is Monday, June 16th. This is an increase from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.36 annualized dividend and a yield of 1.01%. Teck Resources's dividend payout ratio (DPR) is presently 61.82%.

Teck Resources Company 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.