Kestra Private Wealth Services LLC Has $212,000 Position in Teck Resources Limited (NYSE:TECK)

Kestra Private Wealth Services LLC lessened its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 7.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,010 shares of the basic materials company’s stock after selling 425 shares during the period. Kestra Private Wealth Services LLC’s holdings in Teck Resources were worth $212,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. JFS Wealth Advisors LLC boosted its stake in shares of Teck Resources by 249.0% during the 3rd quarter. JFS Wealth Advisors LLC now owns 841 shares of the basic materials company’s stock valued at $36,000 after buying an additional 600 shares during the period. Blue Trust Inc. raised its holdings in shares of Teck Resources by 187.3% during the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the basic materials company’s stock worth $64,000 after acquiring an additional 974 shares in the last quarter. Allworth Financial LP boosted its position in Teck Resources by 17.9% during the third quarter. Allworth Financial LP now owns 2,558 shares of the basic materials company’s stock valued at $110,000 after purchasing an additional 388 shares during the last quarter. Pacer Advisors Inc. purchased a new position in Teck Resources in the fourth quarter valued at about $182,000. Finally, 180 Wealth Advisors LLC purchased a new stake in shares of Teck Resources during the 3rd quarter worth about $204,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analyst Upgrades and Downgrades

TECK has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price objective on Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Morgan Stanley reissued an “overweight” rating and set a $55.00 target price on shares of Teck Resources in a research report on Thursday, April 11th. UBS Group assumed coverage on Teck Resources in a research report on Tuesday, January 16th. They issued a “buy” rating for the company. Finally, Benchmark upped their price target on Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.86.

Teck Resources Trading Up 3.5 %

Teck Resources stock opened at $51.33 on Friday. The business’s 50-day simple moving average is $45.97 and its 200-day simple moving average is $41.00. Teck Resources Limited has a 52 week low of $34.38 and a 52 week high of $51.65. The firm has a market capitalization of $26.27 billion, a PE ratio of 22.71, a PEG ratio of 8.92 and a beta of 1.12. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.49.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. Teck Resources had a net margin of 10.59% and a return on equity of 7.52%. The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.11 billion. Equities research analysts forecast that Teck Resources Limited will post 2.67 earnings per share for the current year.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be given a $0.0911 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.36 annualized dividend and a yield of 0.71%. Teck Resources’s dividend payout ratio (DPR) is currently 16.37%.

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.