State Street Corp purchased a new position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 47,849 shares of the basic materials company's stock, valued at approximately $2,500,000.
Other large investors also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new position in shares of Teck Resources in the 2nd quarter valued at about $38,000. Eastern Bank purchased a new position in Teck Resources in the third quarter valued at approximately $39,000. Bruce G. Allen Investments LLC lifted its position in Teck Resources by 77.4% during the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company's stock valued at $46,000 after buying an additional 383 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in Teck Resources by 69.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company's stock worth $52,000 after buying an additional 409 shares during the period. Finally, HHM Wealth Advisors LLC purchased a new stake in Teck Resources during the second quarter worth approximately $67,000. Hedge funds and other institutional investors own 78.06% of the company's stock.
Teck Resources Stock Up 0.5 %
TECK traded up $0.19 during trading on Wednesday, hitting $40.53. The company had a trading volume of 1,474,628 shares, compared to its average volume of 3,275,676. Teck Resources Limited has a 1-year low of $36.50 and a 1-year high of $55.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The company has a market cap of $20.76 billion, a PE ratio of 61.41 and a beta of 1.03. The business has a 50-day moving average of $45.19 and a 200-day moving average of $47.15.
Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.24. The business had revenue of $2.86 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.57 EPS. As a group, analysts forecast that Teck Resources Limited will post 1.81 earnings per share for the current year.
Teck Resources Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a $0.0895 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.88%. Teck Resources's payout ratio is 56.06%.
Analysts Set New Price Targets
TECK has been the topic of several recent research reports. UBS Group lowered shares of Teck Resources from a "buy" rating to a "neutral" rating in a report on Monday, November 11th. Citigroup upgraded Teck Resources to a "hold" rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. lowered their target price 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. StockNews.com raised Teck Resources from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Finally, National Bank Financial downgraded shares of Teck Resources from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Teck Resources has a consensus rating of "Moderate Buy" and a consensus target price of $65.29.
Read Our Latest Stock Report on Teck Resources
Teck Resources Profile
(
Free Report)
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.
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