Union Bancaire Privee UBP SA Purchases New Shares in Teck Resources Limited (NYSE:TECK)

Union Bancaire Privee UBP SA purchased a new position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 5,568 shares of the basic materials company’s stock, valued at approximately $214,000.

A number of other large investors also recently added to or reduced their stakes in TECK. Exchange Traded Concepts LLC boosted its stake in Teck Resources by 7.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company’s stock worth $198,000 after purchasing an additional 327 shares during the last quarter. OLD National Bancorp IN boosted its holdings in shares of Teck Resources by 7.4% during the 4th quarter. OLD National Bancorp IN now owns 4,955 shares of the basic materials company’s stock worth $201,000 after purchasing an additional 341 shares during the last quarter. Sanctuary Advisors LLC grew its position in shares of Teck Resources by 1.6% in the fourth quarter. Sanctuary Advisors LLC now owns 31,319 shares of the basic materials company’s stock valued at $1,306,000 after purchasing an additional 479 shares in the last quarter. Park Avenue Securities LLC increased its holdings in shares of Teck Resources by 5.7% in the fourth quarter. Park Avenue Securities LLC now owns 8,960 shares of the basic materials company’s stock valued at $363,000 after purchasing an additional 486 shares during the last quarter. Finally, Fulton Bank N.A. lifted its position in Teck Resources by 6.5% during the fourth quarter. Fulton Bank N.A. now owns 8,218 shares of the basic materials company’s stock worth $333,000 after buying an additional 499 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Trading Down 0.5 %

TECK opened at $40.64 on Wednesday. Teck Resources Limited has a 52 week low of $37.30 and a 52 week high of $55.13. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $41.88 and a 200-day simple moving average of $45.67. The firm has a market cap of $20.27 billion, a P/E ratio of 73.88 and a beta of 1.02.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results 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. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. On average, equities analysts expect that Teck Resources Limited will post 1.53 earnings per share for the current 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 is Friday, March 14th. This represents a $0.35 annualized dividend and a yield of 0.87%. Teck Resources’s dividend payout ratio is presently 61.82%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. 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. JPMorgan Chase & Co. dropped their price objective on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. National Bank Financial downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Finally, UBS Group downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.