Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 9.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 184,067 shares of the basic materials company's stock after selling 19,183 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Teck Resources were worth $7,459,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its position 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 valued at $471,000 after buying an additional 243 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Teck Resources by 6.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,844 shares of the basic materials company's stock worth $196,000 after buying an additional 297 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of 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. OLD National Bancorp IN raised its stake in Teck Resources by 7.4% in the 4th quarter. OLD National Bancorp IN now owns 4,955 shares of the basic materials company's stock valued at $201,000 after purchasing an additional 341 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its stake in Teck Resources by 1.6% in the 4th quarter. Sanctuary Advisors LLC now owns 31,319 shares of the basic materials company's stock valued at $1,306,000 after purchasing an additional 479 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company's stock.
Teck Resources Stock Up 4.1 %
TECK stock traded up $1.67 during mid-day trading on Friday, reaching $42.16. The company had a trading volume of 3,702,167 shares, compared to its average volume of 3,126,197. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The company has a market capitalization of $20.94 billion, a price-to-earnings ratio of 76.66 and a beta of 0.93. The firm has a fifty day simple moving average of $41.68 and a 200 day simple moving average of $45.02. Teck Resources Limited has a fifty-two week low of $36.54 and a fifty-two week high of $55.13.
Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $2.58 billion. Analysts forecast that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.
Teck Resources Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.0879 per share. This represents a $0.35 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources's dividend payout ratio (DPR) is presently 61.82%.
Wall Street Analyst Weigh In
TECK has been the subject of several recent research reports. Bank of America increased their price objective on Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a research note on Monday. National Bank Financial cut Teck Resources from an "outperform" rating to a "sector perform" rating in a report on Tuesday, December 10th. 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 report on Thursday, January 16th. Finally, Raymond James lowered their price target on Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, January 22nd. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Teck Resources currently has an average rating of "Moderate Buy" and a consensus target price of $65.22.
View Our Latest Stock Analysis 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.
Featured Articles
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
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
