Teck Resources Limited (NYSE:TECK) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC trimmed its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 5.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,098 shares of the basic materials company’s stock after selling 2,588 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Teck Resources were worth $1,949,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Global Trust Asset Management LLC purchased a new position in shares of Teck Resources in the fourth quarter valued at approximately $27,000. Eastern Bank purchased a new position in shares of Teck Resources in the third quarter worth about $39,000. Wilmington Savings Fund Society FSB acquired a new position in Teck Resources during the third quarter worth about $40,000. Bruce G. Allen Investments LLC grew its stake in Teck Resources by 77.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 383 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Teck Resources by 69.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 409 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

Shares of TECK opened at $40.80 on Monday. The firm has a 50-day simple moving average of $42.94 and a two-hundred day simple moving average of $46.11. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. Teck Resources Limited has a 1-year low of $36.50 and a 1-year high of $55.13. The stock has a market cap of $20.35 billion, a PE ratio of 61.82 and a beta of 1.05.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a $0.0895 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Friday, December 13th. Teck Resources’s payout ratio is 53.03%.

Analyst Upgrades and Downgrades

TECK has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft cut Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a report on Friday, October 25th. Raymond James dropped their target price on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. Scotiabank lifted their price target on Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a report on Tuesday, October 8th. StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, UBS Group downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Six investment 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $65.38.

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.