Signaturefd LLC Has $677,000 Stock Position in Teck Resources Limited (NYSE:TECK)

Signaturefd LLC decreased its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 6.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,694 shares of the basic materials company’s stock after selling 1,074 shares during the period. Signaturefd LLC’s holdings in Teck Resources were worth $677,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aviso Financial Inc. boosted its stake in Teck Resources by 2.6% in the 4th quarter. Aviso Financial Inc. now owns 15,171 shares of the basic materials company’s stock worth $615,000 after purchasing an additional 387 shares during the period. Commonwealth Equity Services LLC boosted its stake in Teck Resources by 2.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company’s stock worth $566,000 after purchasing an additional 302 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Teck Resources by 2.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 9,809 shares of the basic materials company’s stock worth $398,000 after purchasing an additional 279 shares during the period. DSC Meridian Capital LP boosted its stake in Teck Resources by 60.6% in the 4th quarter. DSC Meridian Capital LP now owns 167,746 shares of the basic materials company’s stock worth $6,799,000 after purchasing an additional 63,300 shares during the period. Finally, Barings LLC boosted its stake in Teck Resources by 22.3% in the 4th quarter. Barings LLC now owns 149,300 shares of the basic materials company’s stock worth $6,051,000 after purchasing an additional 27,211 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Up 1.0 %

Shares of TECK stock opened at $42.69 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The firm’s 50-day moving average is $41.78 and its 200-day moving average is $44.84. The stock has a market cap of $21.20 billion, a price-to-earnings ratio of 77.61 and a beta of 0.93. Teck Resources Limited has a 52-week low of $36.54 and a 52-week high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. Sell-side analysts predict that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Bank of America upped their target price on shares of Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Raymond James cut 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. National Bank Financial cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. cut their price target on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.