Bank of Nova Scotia lowered its position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 35.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,453,220 shares of the basic materials company's stock after selling 797,547 shares during the quarter. Bank of Nova Scotia owned approximately 0.29% of Teck Resources worth $58,909,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in TECK. Stonebridge Financial Group LLC bought a new stake in Teck Resources during the fourth quarter valued at about $25,000. Global Trust Asset Management LLC bought a new stake in Teck Resources in the 4th quarter valued at $27,000. FPC Investment Advisory Inc. bought a new stake in Teck Resources in the fourth quarter valued at about $27,000. Community Bank N.A. acquired a new position in shares of Teck Resources in the 4th quarter worth approximately $33,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Teck Resources during the third quarter valued at $40,000. Institutional investors and hedge funds own 78.06% of the company's stock.
Teck Resources Trading Up 1.0 %
TECK traded up $0.32 during trading on Monday, hitting $33.92. The company's stock had a trading volume of 692,363 shares, compared to its average volume of 3,187,565. The firm has a market capitalization of $16.79 billion, a P/E ratio of 61.67 and a beta of 0.81. The stock's fifty day moving average price is $39.35 and its 200-day moving average price is $43.35. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. Teck Resources Limited has a twelve month low of $28.32 and a twelve month high of $55.13.
Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. Analysts anticipate that Teck Resources Limited will post 1.53 EPS for the current year.
Teck Resources Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.0879 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.04%. Teck Resources's payout ratio is presently 61.82%.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the company. National Bankshares reissued a "sector perform" rating on shares of Teck Resources in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. lowered their target price on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a report on Thursday. Raymond James decreased their target price on Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a research report on Wednesday, January 22nd. Desjardins began coverage on shares of Teck Resources in a research note on Friday, April 4th. They set a "buy" rating on the stock. Finally, Bank of America boosted their price objective on shares of Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a report on Monday, March 10th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $64.11.
Check Out Our Latest Stock Report on Teck Resources
Teck Resources Company 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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