Teck Resources Limited (NYSE:TECK) Shares Bought by Quattro Financial Advisors LLC

Quattro Financial Advisors LLC lifted its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 81.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,620 shares of the basic materials company's stock after purchasing an additional 12,433 shares during the period. Quattro Financial Advisors LLC's holdings in Teck Resources were worth $1,200,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. AQR Capital Management LLC acquired a new position in Teck Resources in the 2nd quarter valued at about $213,000. Cetera Investment Advisers increased its stake in Teck Resources by 3.0% during the 2nd quarter. Cetera Investment Advisers now owns 38,099 shares of the basic materials company's stock worth $1,825,000 after buying an additional 1,127 shares during the period. Sanctuary Advisors LLC purchased a new stake in Teck Resources during the 2nd quarter worth approximately $540,000. AMF Tjanstepension AB increased its stake in Teck Resources by 3.9% during the 3rd quarter. AMF Tjanstepension AB now owns 4,552,507 shares of the basic materials company's stock worth $238,055,000 after buying an additional 169,476 shares during the period. Finally, Park Avenue Securities LLC increased its stake in Teck Resources by 8.7% during the 3rd quarter. Park Avenue Securities LLC now owns 8,474 shares of the basic materials company's stock worth $443,000 after buying an additional 680 shares during the period. Hedge funds and other institutional investors own 78.06% of the company's stock.

Wall Street Analyst Weigh In

TECK has been the subject of several recent analyst reports. Raymond James decreased their price objective 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. Deutsche Bank Aktiengesellschaft cut Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 price objective for the company. in a research report on Friday, October 25th. 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 $55.00 to $51.00 and set an "overweight" rating for the company in a report on Thursday, January 16th. Finally, National Bank Financial downgraded Teck Resources from an "outperform" rating to a "sector perform" rating in a report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $65.38.

Teck Resources Stock Performance

Shares of Teck Resources stock traded up $0.69 during trading hours on Wednesday, hitting $42.98. 2,906,642 shares of the company were exchanged, compared to its average volume of 2,874,728. Teck Resources Limited has a 1 year low of $36.50 and a 1 year 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. The business has a 50-day moving average of $42.30 and a 200-day moving average of $45.90. The stock has a market capitalization of $21.44 billion, a price-to-earnings ratio of 65.12 and a beta of 1.02.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a dividend of $0.0895 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, December 13th. Teck Resources's dividend payout ratio (DPR) is presently 53.03%.

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.