Teck Resources Limited (NYSE:TECK) Shares Sold by Private Trust Co. NA

Private Trust Co. NA reduced its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 24.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 870 shares of the basic materials company’s stock after selling 280 shares during the quarter. Private Trust Co. NA’s holdings in Teck Resources were worth $37,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the business. Black Swift Group LLC acquired a new stake in shares of Teck Resources in the fourth quarter valued at approximately $254,000. Cigna Investments Inc. New grew its position in shares of Teck Resources by 4.6% in the fourth quarter. Cigna Investments Inc. New now owns 8,800 shares of the basic materials company’s stock valued at $374,000 after purchasing an additional 391 shares during the last quarter. Blue Trust Inc. grew its position in shares of Teck Resources by 187.3% in the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the basic materials company’s stock valued at $64,000 after purchasing an additional 974 shares during the last quarter. Clear Harbor Asset Management LLC acquired a new stake in shares of Teck Resources in the fourth quarter valued at approximately $226,000. Finally, Schechter Investment Advisors LLC grew its position in shares of Teck Resources by 17.7% in the fourth quarter. Schechter Investment Advisors LLC now owns 11,113 shares of the basic materials company’s stock valued at $470,000 after purchasing an additional 1,670 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TECK. Morgan Stanley restated an “overweight” rating and set a $55.00 target price on shares of Teck Resources in a research report on Thursday. UBS Group began coverage on shares of Teck Resources in a research report on Tuesday, January 16th. They set a “buy” rating on the stock. Finally, Benchmark raised their target price on shares of Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Teck Resources has an average rating of “Moderate Buy” and an average price target of $65.21.

Teck Resources Trading Down 1.6 %

Shares of NYSE:TECK opened at $48.57 on Friday. The company has a market cap of $24.79 billion, a PE ratio of 14.16, a P/E/G ratio of 6.02 and a beta of 1.15. The company’s 50-day moving average price is $41.90 and its 200 day moving average price is $39.91. Teck Resources Limited has a fifty-two week low of $34.38 and a fifty-two week high of $50.30. The company has a quick ratio of 0.60, a current ratio of 1.10 and a debt-to-equity ratio of 0.21.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.01. Teck Resources had a net margin of 16.21% and a return on equity of 9.67%. The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.11 billion. Sell-side analysts anticipate that Teck Resources Limited will post 3.77 earnings per share for the current year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.0925 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.37 dividend on an annualized basis and a dividend yield of 0.76%. Teck Resources’s dividend payout ratio (DPR) is 10.79%.

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.