Teck Resources Limited (NYSE:TECK) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,809 shares of the basic materials company’s stock after purchasing an additional 279 shares during the period. Sequoia Financial Advisors LLC’s holdings in Teck Resources were worth $398,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Synergy Asset Management LLC lifted its position in Teck Resources by 77.7% during the fourth quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company’s stock worth $685,000 after buying an additional 7,387 shares during the period. Forest Avenue Capital Management LP lifted its holdings in shares of Teck Resources by 3.7% during the 3rd quarter. Forest Avenue Capital Management LP now owns 720,920 shares of the basic materials company’s stock worth $37,661,000 after acquiring an additional 25,430 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Teck Resources in the third quarter worth approximately $1,937,000. Intech Investment Management LLC grew its holdings in Teck Resources by 20.9% in the third quarter. Intech Investment Management LLC now owns 98,145 shares of the basic materials company’s stock valued at $5,132,000 after purchasing an additional 16,981 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in Teck Resources in the third quarter valued at approximately $20,896,000. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Stock Down 1.2 %

Shares of NYSE:TECK opened at $42.26 on Wednesday. The company has a 50 day moving average of $41.75 and a two-hundred day moving average of $44.86. Teck Resources Limited has a 52-week low of $36.54 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 company has a market capitalization of $20.98 billion, a price-to-earnings ratio of 76.83 and a beta of 0.93.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, beating 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 analyst estimates of $2.58 billion. As a group, analysts forecast that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.0879 dividend. This represents a $0.35 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources’s dividend payout ratio (DPR) is 61.82%.

Analyst Upgrades and Downgrades

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

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.