SG Americas Securities LLC Lowers Position in Teck Resources Limited (NYSE:TECK)

SG Americas Securities LLC reduced its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 19.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 20,041 shares of the basic materials company’s stock after selling 4,978 shares during the quarter. SG Americas Securities LLC’s holdings in Teck Resources were worth $812,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Daymark Wealth Partners LLC raised its holdings in shares of Teck Resources by 2.8% during the third quarter. Daymark Wealth Partners LLC now owns 8,774 shares of the basic materials company’s stock valued at $458,000 after purchasing an additional 242 shares during the last quarter. Bruce G. Allen Investments LLC increased its position in 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 buying an additional 383 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Teck Resources by 69.7% during the third 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 in the last quarter. Park Avenue Securities LLC increased its stake in Teck Resources by 5.7% in the 4th quarter. Park Avenue Securities LLC now owns 8,960 shares of the basic materials company’s stock worth $363,000 after buying an additional 486 shares in the last quarter. Finally, Fulton Bank N.A. lifted its holdings in Teck Resources by 6.5% in the 4th quarter. Fulton Bank N.A. now owns 8,218 shares of the basic materials company’s stock worth $333,000 after purchasing an additional 499 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Up 0.5 %

Teck Resources stock opened at $41.06 on Thursday. The stock has a market cap of $20.48 billion, a PE ratio of 62.22 and a beta of 1.05. 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 stock has a 50-day moving average of $43.17 and a two-hundred day moving average of $46.25. Teck Resources Limited has a one year low of $36.50 and a one year high of $55.13.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders 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 yield of 0.87%. Teck Resources’s payout ratio is 53.03%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TECK shares. JPMorgan Chase & Co. reduced their target price on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Citigroup upgraded Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. Raymond James lowered their price target on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. UBS Group lowered shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Finally, StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.38.

Teck Resources 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.