Pekin Hardy Strauss Inc. Trims Stock Holdings in Teck Resources Limited (NYSE:TECK)

Pekin Hardy Strauss Inc. decreased its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,034 shares of the basic materials company’s stock after selling 1,581 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Teck Resources were worth $3,406,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new stake in Teck Resources in the fourth quarter worth about $25,000. FPC Investment Advisory Inc. purchased a new stake in Teck Resources in the fourth quarter worth about $27,000. Global Trust Asset Management LLC purchased a new stake in Teck Resources in the fourth quarter worth about $27,000. Eastern Bank purchased a new stake in Teck Resources in the third quarter worth about $39,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Teck Resources in the third quarter worth about $40,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

Shares of Teck Resources stock opened at $41.12 on Friday. The stock has a 50 day moving average of $41.95 and a 200 day moving average of $45.72. Teck Resources Limited has a 12 month low of $37.30 and a 12 month high of $55.13. The firm has a market cap of $20.51 billion, a PE ratio of 74.76 and a beta of 1.02. 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 announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. On average, research analysts expect that Teck Resources Limited will post 1.53 EPS 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. Stockholders of record on Friday, March 14th will be issued a $0.0879 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.35 annualized dividend and a dividend yield of 0.86%. Teck Resources’s payout ratio is 63.64%.

Analyst Ratings Changes

A number of brokerages have commented on TECK. UBS Group cut Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Raymond James dropped their price objective on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. dropped their price objective on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $65.38.

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.