TIAA Trust National Association Sells 3,493 Shares of Teck Resources Limited (NYSE:TECK)

TIAA Trust National Association lessened its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 147,527 shares of the basic materials company’s stock after selling 3,493 shares during the period. TIAA Trust National Association’s holdings in Teck Resources were worth $5,979,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its holdings in shares of Teck Resources by 21.7% during the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock worth $388,507,000 after buying an additional 1,326,241 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Teck Resources by 14.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,394,120 shares of the basic materials company’s stock worth $72,893,000 after purchasing an additional 173,130 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Teck Resources by 374.7% during the 3rd quarter. Cerity Partners LLC now owns 39,625 shares of the basic materials company’s stock worth $2,070,000 after purchasing an additional 31,278 shares during the period. FMR LLC raised its position in shares of Teck Resources by 72.8% during the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock valued at $189,848,000 after buying an additional 1,531,563 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its stake in shares of Teck Resources by 85.0% in the third quarter. D.A. Davidson & CO. now owns 17,031 shares of the basic materials company’s stock valued at $890,000 after buying an additional 7,826 shares during the period. Institutional investors own 78.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on TECK shares. JPMorgan Chase & Co. lowered 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. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. 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. Finally, Bank of America increased their price objective on shares of Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $65.22.

Teck Resources Trading Up 2.0 %

Shares of TECK stock opened at $42.75 on Wednesday. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $21.52 billion, a P/E ratio of 77.73 and a beta of 0.93. Teck Resources Limited has a 12-month low of $36.54 and a 12-month high of $55.13. The firm has a 50-day moving average price of $41.79 and a 200 day moving average price of $44.76.

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. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.58 billion. Research analysts forecast that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.0879 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.82%. Teck Resources’s dividend payout ratio (DPR) is presently 61.82%.

Teck Resources Company 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.