Teck Resources Limited (NYSE:TECK) Position Trimmed by Mirabella Financial Services LLP

Mirabella Financial Services LLP trimmed its stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 31.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,264 shares of the basic materials company's stock after selling 19,412 shares during the quarter. Mirabella Financial Services LLP's holdings in Teck Resources were worth $2,260,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. AMF Tjanstepension AB boosted its holdings in shares of Teck Resources by 846.6% during the second quarter. AMF Tjanstepension AB now owns 4,383,031 shares of the basic materials company's stock worth $210,034,000 after purchasing an additional 3,919,984 shares during the last quarter. TD Asset Management Inc grew its holdings in Teck Resources by 49.0% in the 2nd quarter. TD Asset Management Inc now owns 4,950,816 shares of the basic materials company's stock valued at $237,202,000 after buying an additional 1,629,149 shares during the period. Principal Financial Group Inc. increased its stake in shares of Teck Resources by 21.7% during the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock valued at $388,507,000 after acquiring an additional 1,326,241 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Teck Resources by 48.4% during the 2nd quarter. National Bank of Canada FI now owns 3,934,663 shares of the basic materials company's stock worth $188,111,000 after acquiring an additional 1,283,876 shares during the period. Finally, Cibc World Market Inc. boosted its position in shares of Teck Resources by 26.1% in the second quarter. Cibc World Market Inc. now owns 4,779,715 shares of the basic materials company's stock worth $228,948,000 after acquiring an additional 989,612 shares during the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Stock Up 0.6 %

TECK stock traded up $0.29 during trading on Monday, reaching $47.10. The stock had a trading volume of 2,561,837 shares, compared to its average volume of 3,382,245. The firm has a fifty day moving average price of $48.90 and a 200 day moving average price of $48.56. 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 company has a market capitalization of $23.70 billion, a P/E ratio of 71.36 and a beta of 1.04. Teck Resources Limited has a 1-year low of $35.25 and a 1-year high of $55.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the prior year, the business posted $0.57 earnings per share. Teck Resources's revenue for the quarter was down 20.6% on a year-over-year basis. On average, equities analysts anticipate that Teck Resources Limited will post 1.86 earnings per share for the current year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.0895 per share. This represents a $0.36 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Friday, December 13th. Teck Resources's dividend payout ratio (DPR) is presently 56.06%.

Analyst Ratings Changes

TECK has been the subject of several research analyst reports. Citigroup raised shares of Teck Resources to a "hold" rating in a research report on Wednesday, October 2nd. UBS Group lowered Teck Resources from a "buy" rating to a "neutral" rating in a research report on Monday, November 11th. JPMorgan Chase & Co. lowered their price target on Teck Resources from $57.00 to $55.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft downgraded Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 price objective on the stock. in a report on Friday, October 25th. Finally, Scotiabank boosted their target price on Teck Resources from $78.00 to $79.00 and gave the stock a "sector outperform" rating in a report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Teck Resources has a consensus rating of "Moderate Buy" and an average price target of $65.29.

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.