Teck Resources Limited (NYSE:TECK) Shares Purchased by Affinity Wealth Management LLC

Affinity Wealth Management LLC boosted its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,022 shares of the basic materials company’s stock after acquiring an additional 2,241 shares during the period. Affinity Wealth Management LLC’s holdings in Teck Resources were worth $4,338,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Sei Investments Co. boosted its stake in Teck Resources by 25.0% during the second quarter. Sei Investments Co. now owns 168,226 shares of the basic materials company’s stock worth $8,058,000 after buying an additional 33,664 shares during the last quarter. Evergreen Capital Management LLC raised its holdings in shares of Teck Resources by 7.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 5,064 shares of the basic materials company’s stock worth $243,000 after acquiring an additional 365 shares during the period. Insigneo Advisory Services LLC acquired a new position in shares of Teck Resources during the 2nd quarter valued at about $240,000. AQR Capital Management LLC acquired a new position in shares of Teck Resources during the 2nd quarter valued at about $213,000. Finally, APG Asset Management N.V. grew its holdings in shares of Teck Resources by 890.0% in the second quarter. APG Asset Management N.V. now owns 88,112 shares of the basic materials company’s stock valued at $3,939,000 after purchasing an additional 79,212 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Trading Up 0.1 %

Shares of NYSE:TECK opened at $43.39 on Friday. Teck Resources Limited has a 52 week low of $36.50 and a 52 week high of $55.13. The company’s 50 day moving average is $43.49 and its two-hundred day moving average is $46.43. The company has a market cap of $21.64 billion, a PE ratio of 65.74 and a beta of 1.05. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.24. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.09 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The company’s revenue was down 20.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 earnings per share. Equities analysts predict that Teck Resources Limited will post 1.69 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a $0.0895 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.83%. Teck Resources’s payout ratio is currently 53.03%.

Analysts Set New Price Targets

TECK has been the topic of several recent analyst reports. Raymond James decreased their target price on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday. Scotiabank increased their price target on Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. reduced their price objective 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 shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft lowered Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $65.38.

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.