Teck Resources Limited (NYSE:TECK) Stock Position Cut by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC decreased its holdings in shares of Teck Resources Limited (NYSE:TECKFree Report) (TSE:TECK) by 4.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 12,271 shares of the basic materials company’s stock after selling 510 shares during the period. CIBC Private Wealth Group LLC’s holdings in Teck Resources were worth $519,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Wealthsource Partners LLC boosted its position in shares of Teck Resources by 4.0% during the 3rd quarter. Wealthsource Partners LLC now owns 7,747 shares of the basic materials company’s stock valued at $334,000 after purchasing an additional 300 shares in the last quarter. Cigna Investments Inc. New lifted its position in shares of Teck Resources by 4.6% in the fourth quarter. Cigna Investments Inc. New now owns 8,800 shares of the basic materials company’s stock worth $374,000 after purchasing an additional 391 shares in the last quarter. Kestra Advisory Services LLC lifted its position in shares of Teck Resources by 4.1% in the third quarter. Kestra Advisory Services LLC now owns 11,511 shares of the basic materials company’s stock worth $496,000 after purchasing an additional 455 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Teck Resources by 69.4% in the fourth quarter. First Horizon Advisors Inc. now owns 1,162 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 476 shares in the last quarter. Finally, SkyView Investment Advisors LLC lifted its position in shares of Teck Resources by 5.1% in the third quarter. SkyView Investment Advisors LLC now owns 10,465 shares of the basic materials company’s stock worth $451,000 after purchasing an additional 505 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Up 0.6 %

Shares of Teck Resources stock opened at $49.46 on Tuesday. The company’s fifty day simple moving average is $49.67 and its 200-day simple moving average is $43.47. The company has a market cap of $25.30 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 10.88 and a beta of 1.08. The company has a current ratio of 1.49, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. Teck Resources Limited has a 1 year low of $34.38 and a 1 year high of $55.13.

Teck Resources (NYSE:TECKGet Free Report) (TSE:TECK) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.31). The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.99 billion. Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. As a group, sell-side analysts expect that Teck Resources Limited will post 2.18 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be paid 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 0.74%. Teck Resources’s payout ratio is 16.37%.

Analysts Set New Price Targets

Several brokerages recently weighed in on TECK. JPMorgan Chase & Co. raised their price objective on shares of Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Morgan Stanley reaffirmed an “overweight” rating and set a $55.00 price objective on shares of Teck Resources in a research report on Thursday, April 11th. Finally, Benchmark raised their price objective on shares of Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Teck Resources presently has an average rating of “Moderate Buy” and an average target price of $57.86.

View Our Latest Research Report on TECK

About Teck Resources

(Free Report)

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.

See Also

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

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