Sequoia Financial Advisors LLC Sells 936 Shares of Teck Resources Limited (NYSE:TECK)

Sequoia Financial Advisors LLC lessened its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 9.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,259 shares of the basic materials company’s stock after selling 936 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Teck Resources were worth $391,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Douglas Lane & Associates LLC grew its stake in shares of Teck Resources by 54.3% in the 4th quarter. Douglas Lane & Associates LLC now owns 663,366 shares of the basic materials company’s stock worth $28,040,000 after acquiring an additional 233,361 shares in the last quarter. Pantechnicon Advisors LLP grew its stake in shares of Teck Resources by 40.1% in the 3rd quarter. Pantechnicon Advisors LLP now owns 465,000 shares of the basic materials company’s stock worth $20,037,000 after acquiring an additional 133,000 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Teck Resources by 4.6% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 120,841 shares of the basic materials company’s stock worth $5,191,000 after buying an additional 5,304 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in Teck Resources by 29.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,303,700 shares of the basic materials company’s stock valued at $56,372,000 after buying an additional 295,700 shares during the period. Finally, Braun Stacey Associates Inc. grew its position in Teck Resources by 10.1% during the third quarter. Braun Stacey Associates Inc. now owns 437,011 shares of the basic materials company’s stock valued at $18,831,000 after buying an additional 40,255 shares during the period. Institutional investors own 78.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TECK. UBS Group began coverage on shares of Teck Resources in a research report on Tuesday, January 16th. They set a “buy” rating for the company. Benchmark increased their price target on shares of Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Morgan Stanley restated an “overweight” rating and set a $55.00 price target on shares of Teck Resources in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. increased their price target on shares of Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.04.

Teck Resources Price Performance

TECK stock opened at $47.20 on Thursday. The firm has a 50 day moving average of $42.60 and a 200-day moving average of $40.07. The company has a current ratio of 1.10, a quick ratio of 0.60 and a debt-to-equity ratio of 0.21. Teck Resources Limited has a 12 month low of $34.38 and a 12 month high of $50.46. The firm has a market capitalization of $24.10 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 6.49 and a beta of 1.15.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.01. Teck Resources had a net margin of 16.21% and a return on equity of 9.67%. The company had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.11 billion. As a group, sell-side analysts predict that Teck Resources Limited will post 3.51 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $0.0925 dividend. This represents a $0.37 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Thursday, March 14th. Teck Resources’s dividend payout ratio is currently 10.79%.

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.