Kestra Private Wealth Services LLC Invests $234,000 in Teck Resources Limited (NYSE:TECK)

Kestra Private Wealth Services LLC purchased a new position in Teck Resources Limited (NYSE:TECKFree Report) (TSE:TECK) in the third quarter, Holdings Channel reports. The institutional investor purchased 5,435 shares of the basic materials company’s stock, valued at approximately $234,000.

Other large investors have also recently made changes to their positions in the company. Park Place Capital Corp bought a new stake in Teck Resources during the second quarter valued at $27,000. Baystate Wealth Management LLC bought a new stake in Teck Resources during the third quarter valued at $31,000. Money Concepts Capital Corp bought a new stake in Teck Resources during the fourth quarter valued at $29,000. Optimum Investment Advisors boosted its stake in Teck Resources by 60.0% during the second quarter. Optimum Investment Advisors now owns 800 shares of the basic materials company’s stock valued at $34,000 after buying an additional 300 shares during the period. Finally, JFS Wealth Advisors LLC boosted its stake in Teck Resources by 249.0% during the third quarter. JFS Wealth Advisors LLC now owns 841 shares of the basic materials company’s stock valued at $36,000 after buying an additional 600 shares during the period. 59.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on TECK. Scotiabank lowered Teck Resources from a “sector outperform” rating to a “sector perform” rating in a research note on Tuesday, October 17th. Morgan Stanley lowered their price target on Teck Resources from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, December 7th. B. Riley lowered their price target on Teck Resources from $78.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday, October 26th. TheStreet downgraded Teck Resources from a “b-” rating to a “c+” rating in a research report on Tuesday, October 24th. Finally, Benchmark restated a “buy” rating and set a $50.00 price target on shares of Teck Resources in a research report on Monday, January 22nd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Teck Resources currently has a consensus rating of “Moderate Buy” and an average target price of $64.61.

Get Our Latest Analysis on TECK

Teck Resources Stock Down 2.5 %

TECK opened at $37.00 on Friday. The company has a market cap of $19.23 billion, a P/E ratio of 11.78, a P/E/G ratio of 4.40 and a beta of 1.15. The business’s 50-day moving average price is $39.67 and its 200-day moving average price is $39.57. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 0.22. Teck Resources Limited has a 12 month low of $32.48 and a 12 month high of $49.34.

Teck Resources Increases Dividend

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

Teck Resources Company 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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