Raymond James Financial Services Advisors Inc. Has $1.06 Million Position in Teck Resources Limited (NYSE:TECK)

Raymond James Financial Services Advisors Inc. lessened its stake in shares of Teck Resources Limited (NYSE:TECKGet Rating) (TSE:TECK) by 2.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,804 shares of the basic materials company’s stock after selling 919 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Teck Resources were worth $1,058,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TECK. Bornite Capital Management LP acquired a new position in shares of Teck Resources during the 1st quarter valued at $14,136,000. Bank of New York Mellon Corp raised its holdings in Teck Resources by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 527,062 shares of the basic materials company’s stock worth $21,288,000 after buying an additional 3,812 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Teck Resources by 10.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 17,270 shares of the basic materials company’s stock worth $698,000 after buying an additional 1,591 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Teck Resources by 4.4% during the first quarter. PNC Financial Services Group Inc. now owns 8,067 shares of the basic materials company’s stock worth $327,000 after buying an additional 341 shares during the last quarter. Finally, Natixis Advisors L.P. raised its holdings in Teck Resources by 8.8% during the first quarter. Natixis Advisors L.P. now owns 20,478 shares of the basic materials company’s stock worth $827,000 after buying an additional 1,648 shares during the last quarter. Institutional investors and hedge funds own 56.15% of the company’s stock.

Teck Resources Price Performance

Shares of NYSE:TECK opened at $42.26 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $21.38 billion, a PE ratio of 6.43, a P/E/G ratio of 1.88 and a beta of 1.06. Teck Resources Limited has a twelve month low of $24.72 and a twelve month high of $45.90. The company has a 50-day moving average price of $37.32 and a two-hundred day moving average price of $33.55.

Teck Resources (NYSE:TECKGet Rating) (TSE:TECK) last released its quarterly earnings data on Thursday, October 27th. The basic materials company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.02. Teck Resources had a net margin of 22.99% and a return on equity of 22.53%. The company had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.36 billion. Equities analysts forecast that Teck Resources Limited will post 6.86 EPS for the current year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Thursday, December 15th were given a $0.0939 dividend. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 0.89%. Teck Resources’s dividend payout ratio (DPR) is currently 5.63%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TECK. Canaccord Genuity Group downgraded shares of Teck Resources from a “buy” rating to a “hold” rating and lowered their price objective for the stock from C$51.00 to C$46.00 in a report on Friday, October 28th. Jefferies Financial Group started coverage on shares of Teck Resources in a report on Wednesday, September 28th. They set a “buy” rating on the stock. Citigroup increased their target price on shares of Teck Resources from C$45.00 to C$55.00 in a report on Wednesday, January 11th. StockNews.com downgraded shares of Teck Resources from a “buy” rating to a “hold” rating in a report on Friday, January 13th. Finally, BMO Capital Markets downgraded shares of Teck Resources from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $49.00 to $46.00 in a report on Friday, October 28th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.00.

Teck Resources Profile

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Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, and Energy segments. The company's principal products include copper, zinc, steelmaking coal, and blended bitumen.

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Institutional Ownership by Quarter for Teck Resources (NYSE:TECK)

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