Sequent Planning LLC Decreases Stake in Teck Resources Limited (NYSE:TECK)

Sequent Planning LLC lowered its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 1.4% in the fourth quarter, Holdings Channel reports. The firm owned 20,177 shares of the basic materials company’s stock after selling 292 shares during the period. Sequent Planning LLC’s holdings in Teck Resources were worth $818,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TECK. Stonebridge Financial Group LLC purchased a new stake in shares of Teck Resources during the 4th quarter worth about $25,000. Global Trust Asset Management LLC acquired a new position in Teck Resources during the 4th quarter worth approximately $27,000. FPC Investment Advisory Inc. acquired a new position in Teck Resources during the 4th quarter worth approximately $27,000. Community Bank N.A. acquired a new position in Teck Resources during the 4th quarter worth approximately $33,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Teck Resources during the 3rd quarter worth approximately $40,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on TECK. JPMorgan Chase & Co. reduced their price target on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Raymond James reduced their price target on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. Bank of America boosted their price target on Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Finally, National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $65.22.

Teck Resources Stock Performance

Shares of TECK opened at $41.53 on Monday. 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 firm has a market cap of $20.90 billion, a price-to-earnings ratio of 75.50 and a beta of 0.93. Teck Resources Limited has a 52-week low of $36.54 and a 52-week high of $55.13. The business’s 50 day moving average is $41.79 and its two-hundred day moving average is $44.78.

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

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.0879 per share. The ex-dividend date is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a yield of 0.85%. Teck Resources’s payout ratio is currently 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.