NINE MASTS CAPITAL Ltd Sells 41,258 Shares of Teck Resources Limited (NYSE:TECK)

NINE MASTS CAPITAL Ltd lowered its holdings in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 73.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 15,274 shares of the basic materials company's stock after selling 41,258 shares during the period. NINE MASTS CAPITAL Ltd's holdings in Teck Resources were worth $619,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Swedbank AB bought a new stake in Teck Resources in the 4th quarter valued at $103,878,000. FMR LLC lifted its stake in shares of Teck Resources by 72.8% during the 3rd quarter. FMR LLC now owns 3,634,430 shares of the basic materials company's stock worth $189,848,000 after buying an additional 1,531,563 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Teck Resources during the 3rd quarter worth about $70,549,000. Principal Financial Group Inc. grew its stake in Teck Resources by 21.7% in 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 buying an additional 1,326,241 shares during the last quarter. Finally, Holocene Advisors LP raised its holdings in Teck Resources by 152.7% in the 3rd quarter. Holocene Advisors LP now owns 2,070,377 shares of the basic materials company's stock valued at $108,156,000 after acquiring an additional 1,251,203 shares during the period. Institutional investors and hedge funds own 78.06% of the company's stock.

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Wall Street Analyst Weigh In

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

Teck Resources Price Performance

Shares of Teck Resources stock traded down $0.76 during trading on Thursday, reaching $40.79. 3,392,276 shares of the company's stock were exchanged, compared to its average volume of 3,114,108. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. Teck Resources Limited has a 1-year low of $37.75 and a 1-year high of $55.13. The company has a market cap of $20.25 billion, a P/E ratio of 74.16 and a beta of 0.93. The firm's 50-day moving average price is $41.82 and its 200 day moving average price is $45.38.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.26 by $0.07. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. As a group, research analysts anticipate that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.0879 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a yield of 0.86%. Teck Resources's dividend payout ratio 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.