WR Wealth Planners LLC Decreases Stake in Teck Resources Limited (NYSE:TECK)

WR Wealth Planners LLC lowered its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 27.0% in the fourth quarter, Holdings Channel reports. The fund owned 2,700 shares of the basic materials company’s stock after selling 1,000 shares during the period. WR Wealth Planners LLC’s holdings in Teck Resources were worth $109,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its holdings in shares of Teck Resources by 21.7% in the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock valued at $388,507,000 after acquiring an additional 1,326,241 shares during the period. CIBC Asset Management Inc grew its stake in Teck Resources by 2.0% in the 4th quarter. CIBC Asset Management Inc now owns 6,623,228 shares of the basic materials company’s stock valued at $269,956,000 after acquiring an additional 127,348 shares during the last quarter. FMR LLC grew its stake in Teck Resources by 72.8% in the 3rd quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock valued at $189,848,000 after acquiring an additional 1,531,563 shares during the last quarter. Regal Partners Ltd grew its stake in Teck Resources by 1.4% in the 3rd quarter. Regal Partners Ltd now owns 2,728,980 shares of the basic materials company’s stock valued at $142,562,000 after acquiring an additional 38,949 shares during the last quarter. Finally, Swedbank AB acquired a new stake in Teck Resources in the 4th quarter valued at about $103,878,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Raymond James decreased their price target 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. lowered their price objective on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. National Bank Financial downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Finally, UBS Group downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.38.

Teck Resources Stock Performance

TECK opened at $40.33 on Friday. The stock’s 50 day simple moving average is $41.90 and its 200-day simple moving average is $45.56. Teck Resources Limited has a 1 year low of $37.80 and a 1 year high of $55.13. The stock has a market cap of $20.03 billion, a PE ratio of 73.32 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 earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. Sell-side analysts forecast that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.0879 per share. This represents a $0.35 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources’s dividend payout ratio (DPR) is presently 61.82%.

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.