Exchange Traded Concepts LLC Buys 327 Shares of Teck Resources Limited (NYSE:TECK)

Exchange Traded Concepts LLC lifted its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,897 shares of the basic materials company’s stock after purchasing an additional 327 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Teck Resources were worth $198,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TECK. FMR LLC grew its position in Teck Resources by 72.8% during the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock worth $189,848,000 after buying an additional 1,531,563 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new position in shares of Teck Resources during the third quarter worth about $70,549,000. Principal Financial Group Inc. increased its position in shares of Teck Resources by 21.7% in 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 during the last quarter. Holocene Advisors LP increased its position in shares of Teck Resources by 152.7% in the third quarter. Holocene Advisors LP now owns 2,070,377 shares of the basic materials company’s stock worth $108,156,000 after purchasing an additional 1,251,203 shares during the last quarter. Finally, Temasek Holdings Private Ltd raised its stake in Teck Resources by 77.3% in the third quarter. Temasek Holdings Private Ltd now owns 954,788 shares of the basic materials company’s stock valued at $49,878,000 after purchasing an additional 416,201 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

Shares of Teck Resources stock opened at $40.80 on Friday. The firm has a market cap of $20.35 billion, a PE ratio of 61.82 and a beta of 1.05. The company’s fifty day simple moving average is $42.94 and its two-hundred day simple moving average is $46.13. 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 Limited has a 12-month low of $36.50 and a 12-month high of $55.13.

Teck Resources Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Raymond James cut their price objective 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 raised their price objective on Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a report on Tuesday, October 8th. Finally, National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Teck Resources currently has a consensus rating of “Moderate Buy” and an average target price of $65.38.

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.