Teck Resources Limited (NYSE:TECK) Shares Purchased by First Horizon Advisors Inc.

First Horizon Advisors Inc. boosted its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 69.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,162 shares of the basic materials company’s stock after purchasing an additional 476 shares during the period. First Horizon Advisors Inc.’s holdings in Teck Resources were worth $49,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in TECK. LGT Group Foundation raised its stake in shares of Teck Resources by 21.7% during the fourth quarter. LGT Group Foundation now owns 91,289 shares of the basic materials company’s stock worth $3,882,000 after purchasing an additional 16,279 shares during the last quarter. Van ECK Associates Corp raised its position in Teck Resources by 27.9% during the 4th quarter. Van ECK Associates Corp now owns 411,499 shares of the basic materials company’s stock worth $17,402,000 after buying an additional 89,884 shares during the last quarter. Kailix Advisors LLC lifted its stake in shares of Teck Resources by 13.5% in the 4th quarter. Kailix Advisors LLC now owns 990,481 shares of the basic materials company’s stock worth $41,868,000 after acquiring an additional 117,989 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Teck Resources by 52.5% during the fourth quarter. Russell Investments Group Ltd. now owns 417,857 shares of the basic materials company’s stock worth $17,748,000 after acquiring an additional 143,831 shares during the period. Finally, OLD National Bancorp IN purchased a new position in Teck Resources during the fourth quarter worth about $222,000. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Trading Up 0.9 %

Shares of TECK opened at $50.34 on Wednesday. Teck Resources Limited has a fifty-two week low of $34.38 and a fifty-two week high of $51.65. The stock has a fifty day moving average of $45.47 and a two-hundred day moving average of $40.87. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.49. The company has a market capitalization of $25.76 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 8.92 and a beta of 1.12.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.01. Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.11 billion. As a group, analysts forecast that Teck Resources Limited will post 2.67 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be given a $0.0911 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.36 annualized dividend and a dividend yield of 0.72%. Teck Resources’s dividend payout ratio is presently 16.37%.

Wall Street Analysts Forecast Growth

TECK has been the topic of a number of analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $55.00 price objective on shares of Teck Resources in a report on Thursday, April 11th. JPMorgan Chase & Co. increased their price objective on Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Benchmark boosted their target price on shares of Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, UBS Group began coverage on shares of Teck Resources in a report 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 issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $57.86.

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.