Trek Financial LLC increased its stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 49.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,114 shares of the basic materials company's stock after acquiring an additional 33,972 shares during the quarter. Trek Financial LLC's holdings in Teck Resources were worth $4,139,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its holdings in Teck Resources by 2.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the basic materials company's stock worth $471,000 after purchasing an additional 243 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Teck Resources by 2.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 9,809 shares of the basic materials company's stock worth $398,000 after purchasing an additional 279 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Teck Resources by 6.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,844 shares of the basic materials company's stock valued at $196,000 after buying an additional 297 shares during the period. Commonwealth Equity Services LLC increased its position in Teck Resources by 2.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company's stock valued at $566,000 after buying an additional 302 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in Teck Resources by 7.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company's stock worth $198,000 after buying an additional 327 shares during the period. Institutional investors own 78.06% of the company's stock.
Teck Resources Stock Performance
Shares of TECK traded up $1.90 on Friday, reaching $33.65. 2,779,981 shares of the company's stock traded hands, compared to its average volume of 3,197,845. The stock has a market cap of $16.65 billion, a PE ratio of 60.70 and a beta of 0.81. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The stock's 50 day simple moving average is $39.52 and its two-hundred day simple moving average is $43.53. Teck Resources Limited has a 52-week low of $28.32 and a 52-week high of $55.13.
Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.58 billion. On average, analysts forecast that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.
Teck Resources Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.0879 per share. The ex-dividend date was Friday, March 14th. This represents a $0.35 annualized dividend and a dividend yield of 1.04%. Teck Resources's dividend payout ratio is currently 61.82%.
Analyst Ratings Changes
Several research firms have recently commented on TECK. Bank of America boosted their price objective on Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a report on Monday, March 10th. Desjardins initiated coverage on shares of Teck Resources in a report on Friday, April 4th. They set a "buy" rating on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a research note on Thursday. Raymond James decreased their target price on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a research report on Wednesday, January 22nd. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of Teck Resources in a research report on Wednesday, April 2nd. Seven 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $64.11.
Read Our Latest Report on TECK
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.
Further Reading
Before you consider Teck Resources, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Teck Resources wasn't on the list.
While Teck Resources currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
