Teck Resources Limited (NYSE:TECK) Shares Sold by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc lessened its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 14.4% during the fourth quarter, Holdings Channel reports. The firm owned 178,005 shares of the basic materials company’s stock after selling 30,060 shares during the period. Teck Resources makes up about 1.3% of K.J. Harrison & Partners Inc’s holdings, making the stock its 16th biggest holding. K.J. Harrison & Partners Inc’s holdings in Teck Resources were worth $7,538,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Connective Portfolio Management LLC acquired a new position in shares of Teck Resources during the 3rd quarter valued at $560,000. Commonwealth Equity Services LLC lifted its holdings in shares of Teck Resources by 7.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 22,013 shares of the basic materials company’s stock valued at $949,000 after acquiring an additional 1,433 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Teck Resources by 22.8% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 12,913 shares of the basic materials company’s stock valued at $556,000 after acquiring an additional 2,400 shares in the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of Teck Resources by 3.0% during the 3rd quarter. Maryland State Retirement & Pension System now owns 58,743 shares of the basic materials company’s stock valued at $2,529,000 after acquiring an additional 1,734 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of Teck Resources by 5.0% during the 3rd quarter. Raymond James & Associates now owns 321,893 shares of the basic materials company’s stock valued at $13,870,000 after acquiring an additional 15,218 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Up 1.7 %

Shares of TECK traded up $0.84 during midday trading on Friday, hitting $50.38. The company had a trading volume of 4,860,273 shares, compared to its average volume of 4,093,021. The company’s 50 day moving average price is $43.71 and its 200 day moving average price is $40.34. The stock has a market cap of $25.72 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 6.57 and a beta of 1.15. Teck Resources Limited has a 52 week low of $34.38 and a 52 week high of $50.93. The company has a quick ratio of 0.60, a current ratio of 1.10 and a debt-to-equity ratio of 0.21.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.01. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.11 billion. Teck Resources had a net margin of 16.21% and a return on equity of 9.67%. On average, equities research analysts predict that Teck Resources Limited will post 3.34 EPS for the current year.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $0.0925 dividend. This represents a $0.37 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Thursday, March 14th. Teck Resources’s dividend payout ratio (DPR) is presently 10.50%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Morgan Stanley restated an “overweight” rating and set a $55.00 target price on shares of Teck Resources in a report on Thursday, April 11th. UBS Group started coverage on shares of Teck Resources in a research note on Tuesday, January 16th. They set a “buy” rating on the stock. JPMorgan Chase & Co. lifted their price target on shares of Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Finally, Benchmark lifted their price target on shares of Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $62.80.

Teck Resources 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.