Creekmur Asset Management LLC Acquires Shares of 816 Teck Resources Limited (NYSE:TECK)

Creekmur Asset Management LLC acquired a new stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 816 shares of the basic materials company’s stock, valued at approximately $35,000.

A number of other hedge funds also recently bought and sold shares of the business. Chelsea Counsel Co. grew its stake in shares of Teck Resources by 28.8% in the 4th quarter. Chelsea Counsel Co. now owns 13,975 shares of the basic materials company’s stock valued at $591,000 after buying an additional 3,125 shares during the period. FIL Ltd grew its stake in shares of Teck Resources by 98.8% in the 4th quarter. FIL Ltd now owns 11,937,233 shares of the basic materials company’s stock valued at $504,588,000 after buying an additional 5,933,226 shares during the period. Greenlight Capital Inc. grew its stake in shares of Teck Resources by 6.2% in the 4th quarter. Greenlight Capital Inc. now owns 1,552,063 shares of the basic materials company’s stock valued at $65,606,000 after buying an additional 90,240 shares during the period. Groupama Asset Managment purchased a new stake in shares of Teck Resources in the 4th quarter valued at approximately $59,019,000. Finally, Cohen & Steers Inc. grew its stake in shares of Teck Resources by 15.9% in the 4th quarter. Cohen & Steers Inc. now owns 171,042 shares of the basic materials company’s stock valued at $7,230,000 after buying an additional 23,414 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TECK. 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 note on Monday, April 8th. JPMorgan Chase & Co. increased their price objective on shares of Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $55.00 price objective on shares of Teck Resources in a research report on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.86.

Teck Resources Stock Performance

Shares of TECK stock opened at $47.78 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 1.49 and a debt-to-equity ratio of 0.20. Teck Resources Limited has a 52 week low of $34.38 and a 52 week high of $55.13. The stock has a market capitalization of $24.44 billion, a PE ratio of 21.14, a P/E/G ratio of 10.44 and a beta of 1.08. The firm has a 50 day moving average of $49.75 and a two-hundred day moving average of $43.86.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.31). Teck Resources had a net margin of 10.59% and a return on equity of 7.52%. The business had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $2.99 billion. On average, research analysts predict that Teck Resources Limited will post 2.21 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders 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 0.76%. Teck Resources’s dividend payout ratio is presently 15.93%.

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.