Wilmington Savings Fund Society FSB Purchases Shares of 758 Teck Resources Limited (NYSE:TECK)

Wilmington Savings Fund Society FSB purchased a new stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 758 shares of the basic materials company’s stock, valued at approximately $40,000.

A number of other institutional investors have also recently bought and sold shares of TECK. Klein Pavlis & Peasley Financial Inc. increased its position in shares of Teck Resources by 233.3% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 28,000 shares of the basic materials company’s stock worth $1,341,000 after acquiring an additional 19,600 shares in the last quarter. Forest Avenue Capital Management LP boosted its stake in Teck Resources by 3.7% in the 3rd quarter. Forest Avenue Capital Management LP now owns 720,920 shares of the basic materials company’s stock worth $37,661,000 after purchasing an additional 25,430 shares during the period. CIBC Asset Management Inc grew its position in Teck Resources by 2.6% during the 3rd quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company’s stock worth $341,337,000 after purchasing an additional 165,759 shares in the last quarter. Intech Investment Management LLC raised its stake in Teck Resources by 20.9% during the 3rd quarter. Intech Investment Management LLC now owns 98,145 shares of the basic materials company’s stock valued at $5,132,000 after purchasing an additional 16,981 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in shares of Teck Resources in the third quarter valued at $20,896,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

TECK has been the topic of several recent analyst reports. Citigroup raised Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their price target on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Scotiabank boosted their price objective on shares of Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Tuesday, October 8th. StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, National Bank Financial cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $65.29.

Teck Resources Stock Performance

TECK opened at $40.94 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The company has a market cap of $20.97 billion, a PE ratio of 62.03 and a beta of 1.03. The stock has a 50-day moving average of $46.67 and a 200-day moving average of $47.58. Teck Resources Limited has a 52-week low of $36.50 and a 52-week high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the prior year, the business earned $0.57 earnings per share. The company’s revenue was down 20.6% on a year-over-year basis. As a group, equities research analysts forecast that Teck Resources Limited will post 1.81 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.0895 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.36 annualized dividend and a yield of 0.87%. Teck Resources’s dividend payout ratio (DPR) is presently 56.06%.

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.