Sanctuary Advisors LLC Has $1.61 Million Stock Holdings in Teck Resources Limited (NYSE:TECK)

Sanctuary Advisors LLC boosted its stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 187.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,840 shares of the basic materials company's stock after buying an additional 20,124 shares during the quarter. Sanctuary Advisors LLC's holdings in Teck Resources were worth $1,611,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Eastern Bank acquired a new stake in shares of Teck Resources during the third quarter worth approximately $39,000. Headlands Technologies LLC acquired a new stake in Teck Resources during the 2nd quarter valued at $38,000. Bruce G. Allen Investments LLC raised its position in Teck Resources by 77.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company's stock valued at $46,000 after purchasing an additional 383 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in Teck Resources by 69.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company's stock worth $52,000 after purchasing an additional 409 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Teck Resources by 583.1% during the second quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company's stock worth $48,000 after purchasing an additional 898 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TECK has been the subject of several recent research reports. Citigroup raised Teck Resources to a "hold" rating in a report on Wednesday, October 2nd. UBS Group cut shares of Teck Resources from a "buy" rating to a "neutral" rating in a research note on Monday, November 11th. National Bank Financial cut shares of Teck Resources from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. decreased their price objective on Teck Resources from $57.00 to $55.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. Finally, Scotiabank raised 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. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $65.29.

Teck Resources Stock Up 2.4 %

TECK stock traded up $0.95 during mid-day trading on Friday, hitting $40.94. 3,446,804 shares of the company were exchanged, compared to its average volume of 3,316,906. The firm's 50 day simple moving average is $46.88 and its 200 day simple moving average is $47.67. 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 $36.50 and a 1-year high of $55.13. The firm has a market cap of $20.97 billion, a P/E ratio of 62.03 and a beta of 1.03.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.24. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.09 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The company's revenue for the quarter was down 20.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 EPS. On average, sell-side analysts predict that Teck Resources Limited will post 1.81 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.0895 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Friday, December 13th. Teck Resources's dividend payout ratio (DPR) is currently 56.06%.

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.