Gemsstock Ltd. Purchases 60,100 Shares of Teck Resources Limited (NYSE:TECK)

Gemsstock Ltd. increased its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 14.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 473,170 shares of the basic materials company’s stock after acquiring an additional 60,100 shares during the period. Teck Resources comprises about 3.8% of Gemsstock Ltd.’s holdings, making the stock its 6th biggest position. Gemsstock Ltd.’s holdings in Teck Resources were worth $19,178,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TECK. Stonebridge Financial Group LLC acquired a new position in shares of Teck Resources during the 4th quarter valued at about $25,000. FPC Investment Advisory Inc. purchased a new stake in Teck Resources in the fourth quarter valued at approximately $27,000. Global Trust Asset Management LLC acquired a new position in Teck Resources during the fourth quarter worth approximately $27,000. Wilmington Savings Fund Society FSB purchased a new position in Teck Resources during the third quarter worth approximately $40,000. Finally, Community Bank N.A. acquired a new position in shares of Teck Resources in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

Shares of TECK stock opened at $29.97 on Friday. Teck Resources Limited has a twelve month low of $29.26 and a twelve month high of $55.13. The company has a market capitalization of $14.83 billion, a PE ratio of 54.48 and a beta of 0.81. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $40.72 and a 200-day simple moving average of $44.25.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Equities research analysts anticipate 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 was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.0879 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Friday, March 14th. Teck Resources’s payout ratio is 61.82%.

Analysts Set New Price Targets

A number of analysts have recently commented on TECK shares. Desjardins assumed coverage on Teck Resources in a report on Friday. They set a “buy” rating for the company. JPMorgan Chase & Co. dropped their price target 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. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Bank of America increased their target price on shares of Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Finally, Raymond James reduced 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 report on Wednesday, January 22nd. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.22.

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.