Global Trust Asset Management LLC Makes New $27,000 Investment in Teck Resources Limited (NYSE:TECK)

Global Trust Asset Management LLC bought a new stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 659 shares of the basic materials company’s stock, valued at approximately $27,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TECK. Forest Avenue Capital Management LP lifted its stake in Teck Resources by 3.7% in the third quarter. Forest Avenue Capital Management LP now owns 720,920 shares of the basic materials company’s stock valued at $37,661,000 after purchasing an additional 25,430 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Teck Resources in the third quarter valued at $1,937,000. CIBC Asset Management Inc lifted its position in shares of Teck Resources by 2.6% during the 3rd quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company’s stock valued at $341,337,000 after buying an additional 165,759 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of Teck Resources by 20.9% during the 3rd quarter. Intech Investment Management LLC now owns 98,145 shares of the basic materials company’s stock worth $5,132,000 after acquiring an additional 16,981 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in Teck Resources in the 3rd quarter worth about $20,896,000. 78.06% of the stock is owned by institutional investors.

Teck Resources Price Performance

Teck Resources stock opened at $42.90 on Thursday. The business has a 50-day simple moving average of $43.56 and a 200 day simple moving average of $46.50. Teck Resources Limited has a 52 week low of $36.50 and a 52 week high of $55.13. The stock has a market cap of $21.40 billion, a price-to-earnings ratio of 65.00 and a beta of 1.05. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.24. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The company had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the prior year, the business earned $0.57 earnings per share. Teck Resources’s revenue for the quarter was down 20.6% compared to the same quarter last year. On average, research analysts forecast that Teck Resources Limited will post 1.69 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

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

Analyst Ratings Changes

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. dropped 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. Scotiabank upped their price target on shares of Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research note on Tuesday, October 8th. National Bank Financial lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Finally, StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.