Tower Research Capital LLC TRC Sells 2,025 Shares of Teck Resources Limited (NYSE:TECK)

Tower Research Capital LLC TRC lessened its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 65.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,067 shares of the basic materials company’s stock after selling 2,025 shares during the period. Tower Research Capital LLC TRC’s holdings in Teck Resources were worth $45,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of TECK. Vanguard Group Inc. increased its stake in Teck Resources by 1.4% in the third quarter. Vanguard Group Inc. now owns 15,973,504 shares of the basic materials company’s stock valued at $688,298,000 after purchasing an additional 224,658 shares in the last quarter. Boston Partners increased its stake in Teck Resources by 28.8% in the fourth quarter. Boston Partners now owns 10,881,781 shares of the basic materials company’s stock valued at $484,995,000 after purchasing an additional 2,432,378 shares in the last quarter. Mackenzie Financial Corp increased its stake in Teck Resources by 45.7% in the fourth quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock valued at $280,491,000 after purchasing an additional 2,080,295 shares in the last quarter. CIBC Asset Management Inc increased its stake in Teck Resources by 2.8% in the fourth quarter. CIBC Asset Management Inc now owns 6,388,652 shares of the basic materials company’s stock valued at $270,918,000 after purchasing an additional 174,492 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in Teck Resources by 6.4% in the fourth quarter. National Bank of Canada FI now owns 4,187,131 shares of the basic materials company’s stock valued at $171,599,000 after purchasing an additional 252,468 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Up 0.1 %

Teck Resources stock traded up $0.05 during midday trading on Thursday, hitting $48.46. 3,325,177 shares of the stock were exchanged, compared to its average volume of 4,067,468. Teck Resources Limited has a 52-week low of $34.38 and a 52-week high of $51.65. The stock has a market capitalization of $24.80 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 8.82 and a beta of 1.12. The business’s 50-day moving average price is $44.62 and its 200-day moving average price is $40.60. The company has a quick ratio of 0.86, a current ratio of 1.49 and a debt-to-equity ratio of 0.20.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly 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 business had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $3.11 billion. Teck Resources had a net margin of 10.59% and a return on equity of 7.52%. On average, research analysts expect that Teck Resources Limited will post 2.7 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be paid a $0.0911 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Monday, June 17th. Teck Resources’s payout ratio is 16.37%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $55.00 price target on shares of Teck Resources in a research note on Thursday, April 11th. Benchmark lifted their price target on shares of Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, April 8th. UBS Group started coverage on shares of Teck Resources in a research report on Tuesday, January 16th. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Teck Resources currently has an average rating of “Moderate Buy” and a consensus target price of $57.86.

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.