Trek Financial LLC Buys 33,972 Shares of Teck Resources Limited (NYSE:TECK)

Trek Financial LLC boosted its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 49.9% in the fourth quarter, HoldingsChannel reports. The firm owned 102,114 shares of the basic materials company’s stock after acquiring an additional 33,972 shares during the period. Trek Financial LLC’s holdings in Teck Resources were worth $4,139,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Teck Resources by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company’s stock valued at $783,153,000 after acquiring an additional 58,985 shares during the period. Amundi increased its stake in Teck Resources by 5.6% in the fourth quarter. Amundi now owns 14,949,233 shares of the basic materials company’s stock valued at $619,765,000 after purchasing an additional 791,725 shares in the last quarter. Norges Bank acquired a new stake in Teck Resources in the fourth quarter worth $470,101,000. Principal Financial Group Inc. boosted its position in shares of Teck Resources by 21.7% during the third 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. Finally, CIBC Asset Management Inc grew its holdings in shares of Teck Resources by 2.0% in the 4th quarter. CIBC Asset Management Inc now owns 6,623,228 shares of the basic materials company’s stock valued at $269,956,000 after buying an additional 127,348 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analyst Upgrades and Downgrades

TECK has been the topic of several recent analyst reports. Desjardins began coverage on Teck Resources in a report on Friday. They set a “buy” rating on the stock. JPMorgan Chase & Co. lowered their target price on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Raymond James cut their price target on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. National Bank Financial downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Finally, Bank of America boosted their price objective on shares of Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Teck Resources presently has an average rating of “Moderate Buy” and an average price target of $65.22.

Teck Resources Stock Down 12.1 %

TECK stock opened at $29.97 on Friday. Teck Resources Limited has a twelve month low of $29.26 and a twelve month high of $55.13. The company has a market cap of $14.83 billion, a price-to-earnings ratio of 54.48 and a beta of 0.81. 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 has a 50 day moving average price of $40.72 and a two-hundred day moving average price of $44.25.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, topping 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 business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.58 billion. Analysts anticipate that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.0879 per share. This represents a $0.35 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Friday, March 14th. Teck Resources’s payout ratio is currently 61.82%.

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.