Teck Resources Limited (NYSE:TECK) Holdings Raised by Moerus Capital Management LLC

Moerus Capital Management LLC increased its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 6.5% during the fourth quarter, HoldingsChannel reports. The firm owned 73,712 shares of the basic materials company’s stock after acquiring an additional 4,522 shares during the period. Teck Resources accounts for approximately 1.1% of Moerus Capital Management LLC’s holdings, making the stock its 11th biggest position. Moerus Capital Management LLC’s holdings in Teck Resources were worth $2,988,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Teck Resources in the fourth quarter worth about $470,101,000. Swedbank AB purchased a new stake in shares of Teck Resources in the 4th quarter valued at approximately $103,878,000. Arrowstreet Capital Limited Partnership acquired a new position in Teck Resources in the 4th quarter worth approximately $65,197,000. AMF Tjanstepension AB grew its position in Teck Resources by 32.2% during the 4th quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company’s stock worth $244,252,000 after purchasing an additional 1,467,516 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new stake in Teck Resources during the 3rd quarter valued at $70,549,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Trading Down 12.1 %

Shares of NYSE:TECK opened at $29.97 on Friday. Teck Resources Limited has a 1 year low of $29.26 and a 1 year high of $55.13. The firm has a fifty day moving average price of $40.72 and a 200 day moving average price of $44.25. 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 stock has a market capitalization of $14.83 billion, a PE ratio of 54.48 and a beta of 0.81.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (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 company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.58 billion. Analysts expect that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.0879 per share. The ex-dividend date was Friday, March 14th. This represents a $0.35 annualized dividend and a yield of 1.17%. Teck Resources’s dividend payout ratio (DPR) is presently 61.82%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. JPMorgan Chase & Co. decreased their target price on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Bank of America lifted their target price on Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Desjardins assumed coverage on shares of Teck Resources in a research report on Friday. They issued a “buy” rating for the company. Raymond James lowered their price objective 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. Finally, National Bank Financial downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Six investment 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 stock. According to MarketBeat, Teck Resources presently has an average rating of “Moderate Buy” and a consensus 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.