Teck Resources Limited (NYSE:TECK) Position Boosted by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its stake in Teck Resources Limited (NYSE:TECKFree Report) (TSE:TECK) by 6.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,195 shares of the basic materials company’s stock after purchasing an additional 632 shares during the period. Sequoia Financial Advisors LLC’s holdings in Teck Resources were worth $439,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Gabelli Funds LLC boosted its position in shares of Teck Resources by 59.7% during the 3rd quarter. Gabelli Funds LLC now owns 55,000 shares of the basic materials company’s stock valued at $2,370,000 after acquiring an additional 20,550 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. boosted its position in shares of Teck Resources by 71.7% during the 3rd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 50,650 shares of the basic materials company’s stock valued at $2,183,000 after acquiring an additional 21,150 shares in the last quarter. Phraction Management LLC acquired a new stake in shares of Teck Resources during the 3rd quarter valued at about $418,000. Janney Montgomery Scott LLC boosted its position in shares of Teck Resources by 7.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 38,892 shares of the basic materials company’s stock valued at $1,676,000 after acquiring an additional 2,593 shares in the last quarter. Finally, Barometer Capital Management Inc. lifted its holdings in Teck Resources by 284.6% during the 3rd quarter. Barometer Capital Management Inc. now owns 156,040 shares of the basic materials company’s stock valued at $6,724,000 after purchasing an additional 115,470 shares during the last quarter. 59.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TECK. JPMorgan Chase & Co. began coverage on shares of Teck Resources in a research note on Tuesday, October 17th. They issued an “overweight” rating and a $52.00 target price for the company. Wolfe Research raised shares of Teck Resources from a “peer perform” rating to an “outperform” rating in a research note on Friday, November 10th. Morgan Stanley dropped their target price on shares of Teck Resources from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, December 7th. Benchmark reissued a “buy” rating and set a $50.00 price target on shares of Teck Resources in a research note on Monday, January 22nd. Finally, StockNews.com started coverage on shares of Teck Resources in a research note on Monday, December 11th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Teck Resources has a consensus rating of “Moderate Buy” and an average target price of $64.61.

Get Our Latest Stock Report on Teck Resources

Teck Resources Stock Down 2.5 %

Shares of NYSE TECK opened at $37.01 on Friday. The stock has a market cap of $19.24 billion, a P/E ratio of 11.79, a P/E/G ratio of 4.40 and a beta of 1.15. The firm has a 50 day moving average price of $39.67 and a 200 day moving average price of $39.60. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.68 and a current ratio of 1.20. Teck Resources Limited has a 52-week low of $32.48 and a 52-week high of $49.34.

Teck Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.50 dividend on an annualized basis and a yield of 1.35%. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s payout ratio is currently 11.78%.

Teck Resources Profile

(Free Report)

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, and Energy segments. The company's principal products include copper, zinc, steelmaking coal, and blended bitumen.

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

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