Teck Resources Limited (NYSE:TECK) Shares Bought by Principal Securities Inc.

Principal Securities Inc. raised its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 49.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,858 shares of the basic materials company’s stock after buying an additional 952 shares during the quarter. Principal Securities Inc.’s holdings in Teck Resources were worth $116,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Exchange Traded Concepts LLC grew its stake in Teck Resources by 7.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company’s stock valued at $198,000 after acquiring an additional 327 shares in the last quarter. OLD National Bancorp IN lifted its stake in Teck Resources by 7.4% in the 4th quarter. OLD National Bancorp IN now owns 4,955 shares of the basic materials company’s stock worth $201,000 after purchasing an additional 341 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in shares of Teck Resources by 5.7% during the 4th quarter. Park Avenue Securities LLC now owns 8,960 shares of the basic materials company’s stock worth $363,000 after purchasing an additional 486 shares during the last quarter. Fulton Bank N.A. grew its position in shares of Teck Resources by 6.5% in the fourth quarter. Fulton Bank N.A. now owns 8,218 shares of the basic materials company’s stock valued at $333,000 after purchasing an additional 499 shares in the last quarter. Finally, Bourgeon Capital Management LLC increased its holdings in shares of Teck Resources by 7.7% in the fourth quarter. Bourgeon Capital Management LLC now owns 7,000 shares of the basic materials company’s stock valued at $284,000 after purchasing an additional 500 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Stock Down 0.5 %

Teck Resources stock opened at $40.64 on Wednesday. The company has a market capitalization of $20.27 billion, a PE ratio of 73.88 and a beta of 1.02. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. Teck Resources Limited has a fifty-two week low of $37.30 and a fifty-two week high of $55.13. The firm has a 50 day moving average price of $41.88 and a 200 day moving average price of $45.67.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Research analysts expect that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.0879 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a yield of 0.87%. Teck Resources’s dividend payout ratio (DPR) is presently 61.82%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. National Bank Financial cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Raymond James dropped their price objective on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. Finally, UBS Group downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $65.38.

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.