Teck Resources Limited (NYSE:TECK) Stake Boosted by FORA Capital LLC

FORA Capital LLC boosted its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 15.8% in the third quarter, HoldingsChannel.com reports. The firm owned 40,152 shares of the basic materials company’s stock after acquiring an additional 5,481 shares during the period. FORA Capital LLC’s holdings in Teck Resources were worth $2,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in shares of Teck Resources in the 2nd quarter worth approximately $38,000. Eastern Bank acquired a new stake in Teck Resources in the third quarter worth $39,000. Bruce G. Allen Investments LLC lifted its stake in Teck Resources by 77.4% in the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock valued at $46,000 after buying an additional 383 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Teck Resources by 583.1% during the second quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 898 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Teck Resources by 69.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 409 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TECK. Citigroup upgraded shares of Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. decreased their price objective on Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Scotiabank boosted their price target on Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lowered Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a report on Friday, October 25th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.29.

Teck Resources Trading Down 0.1 %

Shares of TECK stock opened at $46.24 on Thursday. The stock has a 50-day simple moving average of $48.89 and a 200 day simple moving average of $48.50. The stock has a market capitalization of $23.26 billion, a P/E ratio of 70.05 and a beta of 1.04. Teck Resources Limited has a fifty-two week low of $35.60 and a fifty-two 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.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.24. The company had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The business’s revenue was down 20.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS. On average, sell-side analysts expect that Teck Resources Limited will post 1.83 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.0895 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, December 13th. Teck Resources’s dividend payout ratio is presently 56.06%.

About Teck Resources

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.