Teck Resources Limited (NYSE:TECK) Stock Holdings Lowered by D.A. Davidson & CO.

D.A. Davidson & CO. lowered its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 16,667 shares of the basic materials company’s stock after selling 364 shares during the period. D.A. Davidson & CO.’s holdings in Teck Resources were worth $676,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of TECK. Swedbank AB bought a new position in shares of Teck Resources during the fourth quarter worth about $103,878,000. FMR LLC grew its position in Teck Resources by 72.8% in the 3rd quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock valued at $189,848,000 after buying an additional 1,531,563 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in Teck Resources in the 3rd quarter valued at about $70,549,000. Principal Financial Group Inc. grew its position in Teck Resources by 21.7% in the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock valued at $388,507,000 after buying an additional 1,326,241 shares in the last quarter. Finally, Holocene Advisors LP grew its position in Teck Resources by 152.7% in the 3rd quarter. Holocene Advisors LP now owns 2,070,377 shares of the basic materials company’s stock valued at $108,156,000 after buying an additional 1,251,203 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

TECK stock opened at $40.87 on Tuesday. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. Teck Resources Limited has a one year low of $37.30 and a one year high of $55.13. The firm has a market capitalization of $20.38 billion, a PE ratio of 74.31 and a beta of 1.02. The firm has a 50-day moving average of $41.91 and a two-hundred day moving average of $45.71.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, topping 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 firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.58 billion. On average, analysts forecast that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.0879 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 annualized dividend and a yield of 0.86%. Teck Resources’s dividend payout ratio (DPR) is presently 63.64%.

Analyst Upgrades and Downgrades

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

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.