Cwm LLC Has $153,000 Stock Position in Teck Resources Limited (NYSE:TECK)

Cwm LLC cut its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 6.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,623 shares of the basic materials company’s stock after selling 263 shares during the quarter. Cwm LLC’s holdings in Teck Resources were worth $153,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of TECK. Vanguard Group Inc. lifted its position in shares of Teck Resources by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 15,973,504 shares of the basic materials company’s stock valued at $688,298,000 after acquiring an additional 224,658 shares during the period. Boston Partners grew its stake in shares of Teck Resources by 23.3% in the 3rd quarter. Boston Partners now owns 8,449,403 shares of the basic materials company’s stock valued at $384,364,000 after buying an additional 1,596,232 shares during the period. Mackenzie Financial Corp increased its position in Teck Resources by 45.7% in the 4th quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock valued at $280,491,000 after buying an additional 2,080,295 shares in the last quarter. CIBC Asset Management Inc raised its stake in Teck Resources by 1.6% during the 3rd quarter. CIBC Asset Management Inc now owns 6,214,160 shares of the basic materials company’s stock worth $268,287,000 after buying an additional 98,176 shares during the period. Finally, Bank of Nova Scotia boosted its holdings in Teck Resources by 1.1% in the third quarter. Bank of Nova Scotia now owns 4,018,932 shares of the basic materials company’s stock worth $172,978,000 after acquiring an additional 44,040 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TECK shares. UBS Group initiated coverage on Teck Resources in a research report on Tuesday, January 16th. They set a “buy” rating on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Benchmark upped their target price on shares of Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $55.00 price target on shares of Teck Resources in a research note on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.86.

Teck Resources Stock Up 1.7 %

Shares of NYSE TECK opened at $49.29 on Monday. The business’s fifty day moving average price is $45.01 and its 200-day moving average price is $40.72. Teck Resources Limited has a one year low of $34.38 and a one year high of $51.65. The stock has a market capitalization of $25.22 billion, a PE ratio of 21.81, a P/E/G ratio of 8.92 and a beta of 1.12. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.49 and a quick ratio of 0.86.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. The firm had revenue of $3.02 billion during 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 7.52%. On average, equities research analysts anticipate that Teck Resources Limited will post 2.67 EPS for the current year.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be paid a $0.0911 dividend. The ex-dividend date is Monday, June 17th. This represents a $0.36 dividend on an annualized basis and a yield of 0.74%. Teck Resources’s dividend payout ratio is 15.93%.

Teck Resources Company Profile

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.