Braun Stacey Associates Inc. Raises Holdings in Teck Resources Limited (NYSE:TECK)

Braun Stacey Associates Inc. grew its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 0.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 430,503 shares of the basic materials company’s stock after buying an additional 2,749 shares during the quarter. Braun Stacey Associates Inc.’s holdings in Teck Resources were worth $22,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Headlands Technologies LLC bought a new position in shares of Teck Resources during the 2nd quarter valued at $38,000. Eastern Bank bought a new position in Teck Resources in the 3rd quarter worth $39,000. Bruce G. Allen Investments LLC raised its holdings in Teck Resources by 77.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 383 shares during the period. Blue Trust Inc. raised its holdings in Teck Resources by 583.1% in the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 898 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Teck Resources by 69.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 409 shares during the period. 78.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Paradigm Capital raised Teck Resources to a “moderate buy” rating in a report on Friday, July 26th. Citigroup upgraded Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. Scotiabank lifted their price target on Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. decreased their price objective on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, UBS Group downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Teck Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.29.

Teck Resources Stock Performance

Shares of NYSE:TECK opened at $44.99 on Monday. The company has a market capitalization of $22.63 billion, a price-to-earnings ratio of 68.17 and a beta of 1.04. Teck Resources Limited has a 52 week low of $34.56 and a 52 week high of $55.13. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average of $48.73 and a 200 day moving average of $48.66.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.24. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the company earned $0.57 earnings per share. The business’s revenue for the quarter was down 20.6% on a year-over-year basis. On average, sell-side analysts predict that Teck Resources Limited will post 1.84 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.0895 dividend. This represents a $0.36 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Friday, December 13th. Teck Resources’s dividend payout ratio is currently 56.06%.

Teck Resources Company 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.