Avantax Advisory Services Inc. Decreases Stake in Teck Resources Limited (NYSE:TECK)

Avantax Advisory Services Inc. reduced its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,360 shares of the basic materials company’s stock after selling 1,000 shares during the period. Avantax Advisory Services Inc.’s holdings in Teck Resources were worth $1,474,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Amundi boosted its position in shares of Teck Resources by 5.6% during the 4th quarter. Amundi now owns 14,949,233 shares of the basic materials company’s stock worth $619,765,000 after purchasing an additional 791,725 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Teck Resources by 21.7% during the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock worth $388,507,000 after purchasing an additional 1,326,241 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Teck Resources by 2.0% during the 4th quarter. CIBC Asset Management Inc now owns 6,623,228 shares of the basic materials company’s stock worth $269,956,000 after purchasing an additional 127,348 shares in the last quarter. AMF Tjanstepension AB boosted its position in shares of Teck Resources by 32.2% during the 4th quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company’s stock worth $244,252,000 after purchasing an additional 1,467,516 shares in the last quarter. Finally, 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. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Price Performance

NYSE:TECK opened at $42.26 on Wednesday. Teck Resources Limited has a 12-month low of $36.54 and a 12-month high of $55.13. The company’s 50-day moving average is $41.75 and its two-hundred day moving average is $44.86. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The firm has a market cap of $20.98 billion, a price-to-earnings ratio of 76.83 and a beta of 0.93.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.58 billion. Research analysts expect that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.0879 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Friday, March 14th. Teck Resources’s dividend payout ratio is currently 61.82%.

Analyst Upgrades and Downgrades

TECK has been the topic of several recent research reports. National Bank Financial lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Bank of America boosted their price objective on shares of Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Raymond James decreased their price objective on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. decreased 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 report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.22.

About Teck Resources

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.