Sonora Investment Management Group LLC Grows Stake in Teck Resources Limited (NYSE:TECK)

Sonora Investment Management Group LLC lifted its position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 22.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,268 shares of the basic materials company's stock after buying an additional 23,510 shares during the quarter. Sonora Investment Management Group LLC's holdings in Teck Resources were worth $5,280,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. AQR Capital Management LLC bought a new position in Teck Resources in the 2nd quarter worth about $213,000. Creative Planning raised its stake in Teck Resources by 4.4% in the second quarter. Creative Planning now owns 37,821 shares of the basic materials company's stock valued at $1,812,000 after purchasing an additional 1,605 shares in the last quarter. Cetera Investment Advisers lifted its position in Teck Resources by 3.0% during the second quarter. Cetera Investment Advisers now owns 38,099 shares of the basic materials company's stock valued at $1,825,000 after purchasing an additional 1,127 shares during the last quarter. Clearbridge Investments LLC grew its position in Teck Resources by 2.7% in the second quarter. Clearbridge Investments LLC now owns 1,065,704 shares of the basic materials company's stock worth $51,047,000 after acquiring an additional 28,243 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of Teck Resources during the 2nd quarter valued at about $540,000. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Stock Up 4.6 %

Shares of TECK stock traded up $1.83 during mid-day trading on Tuesday, reaching $41.92. 2,526,386 shares of the company's stock traded hands, compared to its average volume of 2,802,250. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The company's 50-day moving average price is $42.80 and its 200-day moving average price is $46.07. The company has a market cap of $20.90 billion, a P/E ratio of 63.51 and a beta of 1.02. Teck Resources Limited has a 12 month low of $36.50 and a 12 month high of $55.13.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a $0.0895 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.36 annualized dividend and a yield of 0.85%. Teck Resources's payout ratio is 53.03%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TECK. National Bank Financial lowered Teck Resources from an "outperform" rating to a "sector perform" rating in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft lowered shares of Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 price target on the stock. in a report on Friday, October 25th. JPMorgan Chase & Co. lowered their price objective on shares of Teck Resources from $55.00 to $51.00 and set an "overweight" rating for the company in a research note on Thursday, January 16th. Raymond James cut their target price on Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 22nd. Finally, Scotiabank upped their price target on Teck Resources from $78.00 to $79.00 and gave the company a "sector outperform" rating in a research report on Tuesday, October 8th. Six investment 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 stock. Based on data from MarketBeat, Teck Resources presently has a consensus rating of "Moderate Buy" and an average price target of $65.38.

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.