Banque Cantonale Vaudoise Sells 879 Shares of Teck Resources Limited (NYSE:TECK)

Banque Cantonale Vaudoise lessened its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 40.9% in the third quarter, Holdings Channel.com reports. The firm owned 1,270 shares of the basic materials company’s stock after selling 879 shares during the period. Banque Cantonale Vaudoise’s holdings in Teck Resources were worth $66,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TECK. Country Club Bank bought a new position in shares of Teck Resources in the second quarter valued at approximately $1,747,000. Atria Investments Inc bought a new position in Teck Resources in the 1st quarter valued at $1,141,000. Klein Pavlis & Peasley Financial Inc. boosted its holdings in Teck Resources by 233.3% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 28,000 shares of the basic materials company’s stock valued at $1,341,000 after purchasing an additional 19,600 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Teck Resources by 414.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 621,556 shares of the basic materials company’s stock valued at $27,118,000 after purchasing an additional 500,715 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in Teck Resources by 2.6% in the 3rd quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company’s stock valued at $341,337,000 after purchasing an additional 165,759 shares during the period. Institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Performance

TECK stock opened at $46.81 on Friday. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The business’s fifty day simple moving average is $48.90 and its two-hundred day simple moving average is $48.58. Teck Resources Limited has a twelve month low of $35.25 and a twelve month high of $55.13. The firm has a market cap of $23.55 billion, a price-to-earnings ratio of 70.92 and a beta of 1.04.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period last year, the business posted $0.57 EPS. The business’s revenue was down 20.6% compared to the same quarter last year. Analysts predict that Teck Resources Limited will post 1.86 earnings per share for the current year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.0895 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, December 13th. Teck Resources’s dividend payout ratio (DPR) is presently 56.06%.

Wall Street Analyst Weigh In

TECK has been the subject of several analyst reports. JPMorgan Chase & Co. cut their price target on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, October 25th. UBS Group lowered shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Citigroup upgraded shares of Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. Scotiabank raised their target price on shares of Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a report on Tuesday, October 8th. Finally, StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Teck Resources currently has a consensus rating of “Moderate Buy” and an average target price of $65.29.

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.