Fulton Bank N.A. Acquires 499 Shares of Teck Resources Limited (NYSE:TECK)

Fulton Bank N.A. increased its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,218 shares of the basic materials company’s stock after purchasing an additional 499 shares during the quarter. Fulton Bank N.A.’s holdings in Teck Resources were worth $333,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in shares of Teck Resources during the 2nd quarter valued at about $38,000. Eastern Bank purchased a new position in Teck Resources during the third quarter valued at approximately $39,000. Wilmington Savings Fund Society FSB bought a new position in shares of Teck Resources in the third quarter worth approximately $40,000. Bruce G. Allen Investments LLC increased its stake in shares of Teck Resources by 77.4% in the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 383 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Teck Resources by 69.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 409 shares during the period. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Trading Up 1.4 %

TECK opened at $42.03 on Friday. The stock has a 50-day moving average of $44.46 and a 200 day moving average of $46.89. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. Teck Resources Limited has a 12 month low of $36.50 and a 12 month high of $55.13. The firm has a market cap of $21.07 billion, a P/E ratio of 63.68 and a beta of 1.05.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.24. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.09 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The company’s revenue for the quarter was down 20.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS. As a group, research analysts forecast that Teck Resources Limited will post 1.81 EPS for the current year.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a dividend of $0.0895 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.85%. Teck Resources’s dividend payout ratio is presently 56.06%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft cut Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 target price for the company. in a research report on Friday, October 25th. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Scotiabank boosted 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, National Bank Financial cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Six equities 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 stock. According to MarketBeat, the company has an average 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.