Raymond James Financial Services Advisors Inc. decreased its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 5.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,331 shares of the basic materials company’s stock after selling 1,172 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Teck Resources were worth $438,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in TECK. Bank of Nova Scotia lifted its holdings in Teck Resources by 10.9% in the fourth quarter. Bank of Nova Scotia now owns 1,987,568 shares of the basic materials company’s stock worth $42,812,000 after acquiring an additional 195,942 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Teck Resources by 352.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 177,935 shares of the basic materials company’s stock valued at $3,830,000 after purchasing an additional 138,649 shares during the period. Nikko Asset Management Americas Inc. grew its position in Teck Resources by 37.7% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 339,905 shares of the basic materials company’s stock worth $7,322,000 after buying an additional 93,132 shares during the last quarter. Highstreet Asset Management Inc. grew its position in Teck Resources by 7.4% in the fourth quarter. Highstreet Asset Management Inc. now owns 340,271 shares of the basic materials company’s stock worth $7,325,000 after buying an additional 23,516 shares during the last quarter. Finally, AGF Investments Inc. grew its position in Teck Resources by 5.4% in the fourth quarter. AGF Investments Inc. now owns 1,119,702 shares of the basic materials company’s stock worth $24,105,000 after buying an additional 57,000 shares during the last quarter. 56.23% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have issued reports on the stock. Barclays lowered shares of Teck Resources to a “positive” rating in a research report on Tuesday, April 9th. They noted that the move was a valuation call. Raymond James reaffirmed a “buy” rating on shares of Teck Resources in a research note on Thursday, April 4th. MKM Partners set a $26.00 price target on shares of Teck Resources and gave the company a “buy” rating in a report on Thursday, April 4th. Bank of America set a $30.00 price target on shares of Teck Resources and gave the company a “buy” rating in a report on Thursday, April 4th. Finally, ValuEngine upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $29.14.
Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Wednesday, February 13th. The basic materials company reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.28 billion. Teck Resources had a net margin of 24.75% and a return on equity of 10.81%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.21 earnings per share. As a group, analysts expect that Teck Resources Ltd will post 2.85 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.038 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Thursday, March 14th. Teck Resources’s dividend payout ratio (DPR) is presently 4.78%.
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About Teck Resources
Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.
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