Corient Private Wealth LLC Decreases Stock Holdings in Teck Resources Limited (NYSE:TECK)

Corient Private Wealth LLC lessened its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 10.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 55,542 shares of the basic materials company's stock after selling 6,548 shares during the period. Corient Private Wealth LLC's holdings in Teck Resources were worth $2,251,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in TECK. Synergy Asset Management LLC grew its position in shares of Teck Resources by 77.7% during the fourth quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company's stock valued at $685,000 after purchasing an additional 7,387 shares in the last quarter. Forest Avenue Capital Management LP lifted its holdings in shares of Teck Resources by 3.7% in the 3rd quarter. Forest Avenue Capital Management LP now owns 720,920 shares of the basic materials company's stock valued at $37,661,000 after acquiring an additional 25,430 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Teck Resources in the third quarter worth about $1,937,000. Paloma Partners Management Co bought a new stake in Teck Resources during the third quarter worth approximately $20,896,000. Finally, FNY Investment Advisers LLC raised its position in Teck Resources by 709.5% during the fourth quarter. FNY Investment Advisers LLC now owns 17,000 shares of the basic materials company's stock valued at $689,000 after purchasing an additional 14,900 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

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Teck Resources Trading Down 1.9 %

Shares of NYSE:TECK traded down $0.77 during trading on Thursday, reaching $39.35. 3,712,956 shares of the company were exchanged, compared to its average volume of 3,116,398. The business's fifty day simple moving average is $41.73 and its 200-day simple moving average is $44.72. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. Teck Resources Limited has a 12-month low of $36.54 and a 12-month high of $55.13. The firm has a market capitalization of $19.80 billion, a PE ratio of 71.54 and a beta of 0.93.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.58 billion. On average, research analysts anticipate that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.0879 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.35 annualized dividend and a dividend yield of 0.89%. Teck Resources's payout ratio is currently 61.82%.

Analyst Ratings Changes

A number of analysts recently issued reports on TECK shares. 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 research report on Thursday, January 16th. Raymond James lowered their target price on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, January 22nd. National Bank Financial downgraded shares of Teck Resources from an "outperform" rating to a "sector perform" rating in a report on Tuesday, December 10th. Finally, Bank of America increased their price objective on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $65.22.

Teck Resources 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.