Cerity Partners LLC Buys Shares of 7,035 Teck Resources Limited (NYSE:TECK)

Cerity Partners LLC bought a new stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,035 shares of the basic materials company’s stock, valued at approximately $297,000.

Several other large investors also recently added to or reduced their stakes in TECK. Baystate Wealth Management LLC purchased a new position in shares of Teck Resources during the 3rd quarter worth $31,000. 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 worth $36,000 after buying an additional 600 shares during the period. Blue Trust Inc. increased its position in shares of Teck Resources by 187.3% during the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the basic materials company’s stock valued at $64,000 after acquiring an additional 974 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Teck Resources by 17.9% in the 3rd quarter. Allworth Financial LP now owns 2,558 shares of the basic materials company’s stock worth $110,000 after acquiring an additional 388 shares during the last quarter. Finally, Pacer Advisors Inc. purchased a new position in shares of Teck Resources during the 4th quarter worth approximately $182,000. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Stock Up 1.7 %

TECK stock opened at $50.38 on Friday. Teck Resources Limited has a fifty-two week low of $34.38 and a fifty-two week high of $50.93. The company’s 50 day moving average price is $43.94 and its 200 day moving average price is $40.41. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.60 and a current ratio of 1.10. The firm has a market capitalization of $25.72 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 8.34 and a beta of 1.15.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.01. The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.11 billion. Teck Resources had a net margin of 10.59% and a return on equity of 7.70%. On average, equities research analysts anticipate that Teck Resources Limited will post 2.87 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.0925 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.37 annualized dividend and a dividend yield of 0.73%. Teck Resources’s dividend payout ratio is currently 16.37%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TECK. Morgan Stanley reissued an “overweight” rating and issued a $55.00 target price on shares of Teck Resources in a research report on Thursday, April 11th. Benchmark increased their target price on Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. lifted their target price on Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Finally, UBS Group began coverage on shares of Teck Resources in a research note on Tuesday, January 16th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $57.86.

About Teck Resources

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.