Teck Resources Limited (NYSE:TECK) Shares Sold by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC reduced its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 14.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,807 shares of the basic materials company’s stock after selling 460 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Teck Resources were worth $114,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of TECK. Principal Financial Group Inc. boosted its position in Teck Resources by 21.7% during 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 in the last quarter. Empowered Funds LLC lifted its position in shares of Teck Resources by 3.4% during the 3rd quarter. Empowered Funds LLC now owns 21,607 shares of the basic materials company’s stock valued at $1,129,000 after buying an additional 707 shares in the last quarter. Natixis Advisors LLC grew its stake in Teck Resources by 129.6% in the 3rd quarter. Natixis Advisors LLC now owns 246,190 shares of the basic materials company’s stock valued at $12,861,000 after acquiring an additional 138,952 shares during the period. Swiss National Bank increased its holdings in Teck Resources by 1.0% in the 3rd quarter. Swiss National Bank now owns 1,391,579 shares of the basic materials company’s stock worth $72,799,000 after acquiring an additional 14,000 shares in the last quarter. Finally, Premier Fund Managers Ltd raised its position in Teck Resources by 4.8% during the third quarter. Premier Fund Managers Ltd now owns 109,000 shares of the basic materials company’s stock worth $5,716,000 after acquiring an additional 5,000 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. National Bank Financial lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Bank of America boosted their price objective on Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Raymond James decreased their target price 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. Finally, JPMorgan Chase & Co. dropped their price target on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Teck Resources currently has an average rating of “Moderate Buy” and an average target price of $65.22.

Teck Resources Price Performance

Teck Resources stock opened at $42.26 on Wednesday. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $41.75 and a 200 day moving average price of $44.86. Teck Resources Limited has a 12-month low of $36.54 and a 12-month high of $55.13. The stock has a market cap of $20.98 billion, a P/E ratio of 76.83 and a beta of 0.93.

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

Teck Resources Cuts Dividend

The firm also recently announced 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 of this dividend is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a yield of 0.83%. Teck Resources’s dividend 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.