Teck Resources Limited (NYSE:TECK) Shares Purchased by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC raised its stake in Teck Resources Limited (NYSE:TECKGet Rating) (TSE:TECK) by 19.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,611 shares of the basic materials company’s stock after buying an additional 740 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Teck Resources were worth $186,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TECK. Janney Montgomery Scott LLC lifted its position in Teck Resources by 98.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 80,519 shares of the basic materials company’s stock valued at $2,321,000 after buying an additional 39,900 shares during the last quarter. Yousif Capital Management LLC acquired a new position in Teck Resources in the fourth quarter valued at about $234,000. Quadrant Capital Group LLC lifted its position in Teck Resources by 24.2% in the fourth quarter. Quadrant Capital Group LLC now owns 3,812 shares of the basic materials company’s stock valued at $110,000 after buying an additional 742 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Teck Resources by 33.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 168,069 shares of the basic materials company’s stock valued at $4,773,000 after buying an additional 41,917 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in Teck Resources by 3.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 159,390 shares of the basic materials company’s stock valued at $4,593,000 after buying an additional 5,337 shares during the last quarter. Institutional investors and hedge funds own 55.81% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on TECK. Credit Suisse Group cut their price target on shares of Teck Resources from C$68.00 to C$63.00 in a research note on Tuesday, July 26th. Raymond James cut their price target on shares of Teck Resources from C$60.00 to C$56.00 in a research note on Thursday. Canaccord Genuity Group upgraded shares of Teck Resources from a “hold” rating to a “buy” rating in a research note on Thursday. TD Securities cut their price target on shares of Teck Resources from C$57.00 to C$55.00 in a research note on Thursday. Finally, BMO Capital Markets cut their price target on shares of Teck Resources from C$67.00 to C$61.00 in a research note on Friday, July 8th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.83.

Teck Resources Stock Performance

Shares of Teck Resources stock opened at $29.39 on Monday. The firm has a market capitalization of $15.33 billion, a P/E ratio of 4.87, a P/E/G ratio of 1.83 and a beta of 1.25. Teck Resources Limited has a 52 week low of $19.32 and a 52 week high of $45.90. The company has a quick ratio of 1.34, a current ratio of 1.92 and a debt-to-equity ratio of 0.29. The firm’s 50 day moving average is $34.27 and its two-hundred day moving average is $36.56.

Teck Resources (NYSE:TECKGet Rating) (TSE:TECK) last posted its quarterly earnings data on Wednesday, July 27th. The basic materials company reported $3.25 earnings per share for the quarter, beating the consensus estimate of $2.01 by $1.24. The business had revenue of $5.79 billion during the quarter, compared to the consensus estimate of $5.59 billion. Teck Resources had a return on equity of 18.76% and a net margin of 25.82%. The company’s revenue was up 126.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 earnings per share. Research analysts forecast that Teck Resources Limited will post 7.14 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be issued a $0.097 dividend. This represents a $0.39 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Wednesday, September 14th. Teck Resources’s payout ratio is currently 6.63%.

Teck Resources Company Profile

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Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, Energy, and Corporate segments. The company's principal products include steelmaking coal; copper, gold, blended bitumen, lead, silver, molybdenum, zinc, and zinc concentrates; chemicals, fertilizers, and other metals.

See Also

Institutional Ownership by Quarter for Teck Resources (NYSE:TECK)

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