Oppenheimer & Co. Inc. Cuts Holdings in Teck Resources Limited (NYSE:TECK)

Oppenheimer & Co. Inc. reduced its position in Teck Resources Limited (NYSE:TECK – Get Rating) (TSE:TECK) by 87.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,595 shares of the basic materials company’s stock after selling 99,488 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Teck Resources were worth $552,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in TECK. Hollencrest Capital Management acquired a new stake in shares of Teck Resources during the fourth quarter valued at about $38,000. Advisors Asset Management Inc. grew its stake in shares of Teck Resources by 71.2% during the third quarter. Advisors Asset Management Inc. now owns 10,151 shares of the basic materials company’s stock valued at $309,000 after acquiring an additional 4,220 shares in the last quarter. CWM LLC grew its stake in shares of Teck Resources by 41.1% during the fourth quarter. CWM LLC now owns 2,635 shares of the basic materials company’s stock valued at $100,000 after acquiring an additional 768 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Teck Resources by 73.9% during the third quarter. Hsbc Holdings PLC now owns 250,309 shares of the basic materials company’s stock valued at $7,712,000 after acquiring an additional 106,382 shares in the last quarter. Finally, Natixis Advisors L.P. grew its stake in shares of Teck Resources by 50.7% during the fourth quarter. Natixis Advisors L.P. now owns 70,344 shares of the basic materials company’s stock valued at $2,660,000 after acquiring an additional 23,666 shares in the last quarter. 56.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on TECK. Royal Bank of Canada lifted their price target on Teck Resources from C$64.00 to C$72.00 in a research note on Wednesday, February 22nd. CIBC lifted their price target on Teck Resources from C$65.00 to C$76.00 in a research note on Thursday, April 27th. Stifel Nicolaus lifted their price target on Teck Resources from C$65.00 to C$66.00 in a research note on Tuesday, April 11th. Deutsche Bank Aktiengesellschaft lifted their price target on Teck Resources from $46.00 to $47.00 in a research note on Wednesday, May 3rd. Finally, B. Riley lifted their price target on Teck Resources from C$66.00 to C$68.00 in a research note on Friday, April 28th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.86.

Teck Resources Stock Performance

TECK opened at $43.53 on Friday. The business’s 50 day moving average is $41.24 and its 200-day moving average is $39.29. The stock has a market cap of $22.07 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. The company has a current ratio of 1.28, a quick ratio of 0.80 and a debt-to-equity ratio of 0.24. Teck Resources Limited has a twelve month low of $24.72 and a twelve month high of $49.34.

Teck Resources (NYSE:TECK – Get Rating) (TSE:TECK) last announced its earnings results on Tuesday, February 21st. The basic materials company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.17). Teck Resources had a return on equity of 15.71% and a net margin of 16.80%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.58 billion. On average, analysts predict that Teck Resources Limited will post 4.8 earnings per share for the current year.

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be issued a dividend of $0.125 per share. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.50 annualized dividend and a yield of 1.15%. Teck Resources’s payout ratio is presently 8.65%.

Teck Resources Company Profile

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Teck Resources Limited is a resource company, which engages in the exploration, acquisition, development, production, and sale of natural resources, Its products include steelmaking coal, copper, zinc, industrial products and fertilizers, and other metals. Its project operations are located in Canada, Peru, Chile, and US.