Union Bancaire Privee UBP SA Invests $214,000 in Teck Resources Limited (NYSE:TECK)

Union Bancaire Privee UBP SA purchased a new stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the fourth quarter, Holdings Channel.com reports. The firm purchased 5,568 shares of the basic materials company’s stock, valued at approximately $214,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Global Trust Asset Management LLC bought a new position in shares of Teck Resources in the fourth quarter worth about $27,000. Eastern Bank acquired a new stake in shares of Teck Resources in the third quarter valued at approximately $39,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Teck Resources in the third quarter valued at approximately $40,000. Bruce G. Allen Investments LLC raised its position in Teck Resources by 77.4% in 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. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in Teck Resources by 69.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after buying an additional 409 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Performance

Shares of NYSE TECK opened at $41.06 on Thursday. 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 firm has a market cap of $20.48 billion, a price-to-earnings ratio of 62.22 and a beta of 1.05. The stock’s fifty day moving average price is $43.17 and its two-hundred day moving average price is $46.25. Teck Resources Limited has a one year low of $36.50 and a one year high of $55.13.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a dividend of $0.0895 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Friday, December 13th. Teck Resources’s dividend payout ratio is 53.03%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. cut their price target on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Scotiabank upped their target price on shares of Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Tuesday, October 8th. National Bank Financial cut Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $65.38.

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.