Teck Resources Limited (NYSE:TECK) Shares Sold by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc lessened its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 28.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 162,020 shares of the basic materials company’s stock after selling 65,105 shares during the quarter. Teck Resources makes up 1.0% of K.J. Harrison & Partners Inc’s portfolio, making the stock its 25th largest holding. K.J. Harrison & Partners Inc’s holdings in Teck Resources were worth $6,621,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Synergy Asset Management LLC boosted its holdings in shares of Teck Resources by 77.7% during the fourth quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company’s stock valued at $685,000 after acquiring an additional 7,387 shares during the period. Forest Avenue Capital Management LP lifted its position 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 valued at $37,661,000 after purchasing an additional 25,430 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Teck Resources during the 3rd quarter valued at about $1,937,000. Intech Investment Management LLC grew its position in Teck Resources by 20.9% in the 3rd quarter. Intech Investment Management LLC now owns 98,145 shares of the basic materials company’s stock worth $5,132,000 after purchasing an additional 16,981 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in Teck Resources by 2.6% in 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 during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TECK shares. Raymond James reduced their price objective on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. National Bank Financial downgraded Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. UBS Group cut Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. cut 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. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Teck Resources presently has an average rating of “Moderate Buy” and an average target price of $65.38.

Teck Resources Price Performance

NYSE:TECK opened at $41.39 on Thursday. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The business’s 50-day moving average price is $41.91 and its 200 day moving average price is $45.64. Teck Resources Limited has a 52-week low of $37.30 and a 52-week high of $55.13. The firm has a market cap of $20.64 billion, a P/E ratio of 75.25 and a beta of 1.02.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.07. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.58 billion. As a group, sell-side analysts predict that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.0879 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 annualized dividend and a yield of 0.85%. Teck Resources’s dividend payout ratio (DPR) is 61.82%.

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.