Atomi Financial Group Inc. Buys Shares of 33,315 Teck Resources Limited (NYSE:TECK)

Atomi Financial Group Inc. purchased a new position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 33,315 shares of the basic materials company’s stock, valued at approximately $1,350,000.

Other institutional investors have also recently made changes to their positions in the company. Daymark Wealth Partners LLC increased its stake in Teck Resources by 2.8% during the third quarter. Daymark Wealth Partners LLC now owns 8,774 shares of the basic materials company’s stock worth $458,000 after acquiring an additional 242 shares during the last quarter. Evergreen Capital Management LLC grew 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 purchasing an additional 365 shares during the period. Bruce G. Allen Investments LLC increased its position in shares of Teck Resources by 77.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 383 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in Teck Resources by 69.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after buying an additional 409 shares during the period. Finally, Park Avenue Securities LLC lifted its position in Teck Resources by 5.7% in the fourth quarter. Park Avenue Securities LLC now owns 8,960 shares of the basic materials company’s stock valued at $363,000 after buying an additional 486 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Up 1.4 %

TECK opened at $43.76 on Wednesday. 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 stock has a market capitalization of $21.82 billion, a price-to-earnings ratio of 66.30 and a beta of 1.05. The business has a fifty day moving average price of $43.60 and a 200 day moving average price of $46.52. Teck Resources Limited has a 12 month low of $36.50 and a 12 month high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data 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 business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.09 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The business’s revenue for the quarter was down 20.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 earnings per share. Sell-side analysts expect that Teck Resources Limited will post 1.69 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a dividend of $0.0895 per share. This represents a $0.36 annualized dividend and a yield of 0.82%. The ex-dividend date was Friday, December 13th. Teck Resources’s payout ratio is 53.03%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TECK shares. Deutsche Bank Aktiengesellschaft cut shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research report on Friday, October 25th. UBS Group downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. National Bank Financial cut Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. 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. Finally, Scotiabank boosted their price objective on Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a report on Tuesday, October 8th. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Teck Resources has a consensus rating of “Moderate Buy” and a consensus price target of $64.71.

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.