Northwest & Ethical Investments L.P. Trims Position in Teck Resources Limited (NYSE:TECK)

Northwest & Ethical Investments L.P. trimmed its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 1.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 97,850 shares of the basic materials company’s stock after selling 1,395 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Teck Resources were worth $5,111,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the company. Headlands Technologies LLC purchased a new position in shares of Teck Resources in the second quarter worth approximately $38,000. Eastern Bank purchased a new position in shares of Teck Resources during the 3rd quarter worth $39,000. Bruce G. Allen Investments LLC grew its position in shares of Teck Resources by 77.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 383 shares during the period. Blue Trust Inc. increased its stake in shares of Teck Resources by 583.1% in the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 898 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Teck Resources by 69.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 409 shares during the period. 78.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Citigroup raised Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. Scotiabank increased their target price on shares of Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. lowered their price target on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft cut shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research note on Friday, October 25th. Finally, UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.29.

Teck Resources Price Performance

TECK stock opened at $46.24 on Friday. Teck Resources Limited has a 52 week low of $35.60 and a 52 week high of $55.13. The firm has a market capitalization of $23.69 billion, a P/E ratio of 70.06 and a beta of 1.04. The company has a fifty day simple moving average of $48.87 and a two-hundred day simple moving average of $48.48. 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 announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.24. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter last year, the firm earned $0.57 EPS. The firm’s revenue for the quarter was down 20.6% compared to the same quarter last year. Analysts anticipate that Teck Resources Limited will post 1.82 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.0895 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, December 13th. Teck Resources’s dividend payout ratio is currently 56.06%.

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.