Synergy Asset Management LLC Has $685,000 Stock Holdings in Teck Resources Limited (NYSE:TECK)

Synergy Asset Management LLC grew its holdings in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 77.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,892 shares of the basic materials company's stock after purchasing an additional 7,387 shares during the quarter. Synergy Asset Management LLC's holdings in Teck Resources were worth $685,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Swedbank AB bought a new stake in Teck Resources in the fourth quarter valued at approximately $103,878,000. FMR LLC lifted its holdings in Teck Resources by 72.8% during the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company's stock worth $189,848,000 after acquiring an additional 1,531,563 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Teck Resources during the 3rd quarter valued at about $70,549,000. Principal Financial Group Inc. increased its stake in Teck Resources by 21.7% during the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock worth $388,507,000 after purchasing an additional 1,326,241 shares in the last quarter. Finally, Holocene Advisors LP lifted its stake in Teck Resources by 152.7% in the third quarter. Holocene Advisors LP now owns 2,070,377 shares of the basic materials company's stock valued at $108,156,000 after buying an additional 1,251,203 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company's stock.

Teck Resources Stock Performance

Shares of TECK traded down $0.79 during trading hours on Friday, hitting $40.92. The company had a trading volume of 1,168,063 shares, compared to its average volume of 2,720,032. The firm has a market cap of $20.41 billion, a price-to-earnings ratio of 61.98 and a beta of 1.05. 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 business has a fifty day moving average of $43.06 and a 200-day moving average of $46.22. Teck Resources Limited has a 12 month low of $36.50 and a 12 month high of $55.13.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a dividend of $0.0895 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Friday, December 13th. Teck Resources's dividend payout ratio is presently 53.03%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TECK shares. StockNews.com upgraded shares of Teck Resources from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. Raymond James decreased their price objective on Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their target price on Teck Resources from $55.00 to $51.00 and set an "overweight" rating on the stock in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft downgraded Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 price target for the company. in a research note on Friday, October 25th. Finally, Scotiabank upped their price objective on Teck Resources from $78.00 to $79.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, October 8th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $65.38.

About Teck Resources

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.