Nikko Asset Management Americas Inc. Has $2.15 Million Stake in Teck Resources Limited (NYSE:TECK)

Nikko Asset Management Americas Inc. reduced its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 9.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,081 shares of the basic materials company’s stock after selling 5,292 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Teck Resources were worth $2,151,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Stonebridge Financial Group LLC acquired a new stake in shares of Teck Resources in the fourth quarter valued at about $25,000. FPC Investment Advisory Inc. acquired a new stake in Teck Resources in the 4th quarter valued at approximately $27,000. Global Trust Asset Management LLC acquired a new stake in Teck Resources in the 4th quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB bought a new position in Teck Resources in the 3rd quarter worth approximately $40,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Teck Resources by 342.8% during the fourth quarter. Jones Financial Companies Lllp now owns 1,758 shares of the basic materials company’s stock worth $71,000 after buying an additional 1,361 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

Teck Resources stock opened at $42.77 on Tuesday. The business has a 50 day simple moving average of $41.73 and a 200 day simple moving average of $44.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The company has a market capitalization of $21.24 billion, a PE ratio of 77.76 and a beta of 0.93. Teck Resources Limited has a one year low of $36.54 and a one year high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.58 billion. On average, sell-side analysts forecast 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. Investors of record on Friday, March 14th will be issued a dividend of $0.0879 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a yield of 0.82%. Teck Resources’s dividend payout ratio is 61.82%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Raymond James lowered their price objective on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. 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 research report on Thursday, January 16th. Bank of America upped their price objective on shares of Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Finally, National Bank Financial downgraded Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Six research 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’s stock. 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.