Flagship Harbor Advisors LLC Sells 500 Shares of Teck Resources Limited (NYSE:TECK)

Flagship Harbor Advisors LLC lowered its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 7.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,941 shares of the basic materials company’s stock after selling 500 shares during the period. Flagship Harbor Advisors LLC’s holdings in Teck Resources were worth $241,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TECK. Principal Financial Group Inc. increased its stake in shares of Teck Resources by 21.7% in the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock valued at $388,507,000 after acquiring an additional 1,326,241 shares in the last quarter. CIBC Asset Management Inc increased its stake in Teck Resources by 2.6% in the third 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 in the last quarter. AMF Tjanstepension AB raised its holdings in shares of Teck Resources by 3.9% during the third quarter. AMF Tjanstepension AB now owns 4,552,507 shares of the basic materials company’s stock valued at $238,055,000 after purchasing an additional 169,476 shares during the period. FMR LLC boosted its position in shares of Teck Resources by 72.8% during the 3rd quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock worth $189,848,000 after purchasing an additional 1,531,563 shares in the last quarter. Finally, Regal Partners Ltd increased its position in Teck Resources by 1.4% in the 3rd quarter. Regal Partners Ltd now owns 2,728,980 shares of the basic materials company’s stock valued at $142,562,000 after buying an additional 38,949 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TECK has been the topic of several recent research reports. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Citigroup raised shares of Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. National Bank Financial downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. dropped their price objective on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Finally, 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 research report on Tuesday, October 8th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Teck Resources currently has an average rating of “Moderate Buy” and an average price target of $65.38.

Teck Resources Price Performance

Teck Resources stock opened at $41.06 on Thursday. Teck Resources Limited has a 52 week low of $36.50 and a 52 week high of $55.13. The company’s 50 day moving average price is $43.17 and its two-hundred day moving average price is $46.25. The stock has a market cap of $20.48 billion, a P/E ratio of 62.22 and a beta of 1.05. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a $0.0895 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.36 annualized dividend and a yield of 0.87%. Teck Resources’s dividend payout ratio is currently 53.03%.

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.