Atlas Capital Advisors LLC Has $226,000 Stake in Teck Resources Limited (NYSE:TECK)

Atlas Capital Advisors LLC reduced its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 16.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 4,930 shares of the basic materials company’s stock after selling 975 shares during the quarter. Atlas Capital Advisors LLC’s holdings in Teck Resources were worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Creekmur Asset Management LLC acquired a new stake in shares of Teck Resources during the fourth quarter worth $35,000. Optiver Holding B.V. boosted its holdings in Teck Resources by 81.9% in the 4th quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 438 shares during the period. First Horizon Advisors Inc. grew its position in shares of Teck Resources by 69.4% during the 4th quarter. First Horizon Advisors Inc. now owns 1,162 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 476 shares in the last quarter. Blue Trust Inc. raised its position in shares of Teck Resources by 187.3% in the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the basic materials company’s stock valued at $64,000 after buying an additional 974 shares in the last quarter. Finally, Gold Investment Management Ltd. acquired a new stake in shares of Teck Resources in the fourth quarter valued at approximately $110,000. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Stock Performance

NYSE:TECK opened at $48.01 on Friday. Teck Resources Limited has a twelve month low of $34.38 and a twelve month high of $55.13. The company has a quick ratio of 0.86, a current ratio of 1.49 and a debt-to-equity ratio of 0.20. The stock’s 50-day simple moving average is $49.70 and its 200 day simple moving average is $44.34. The firm has a market capitalization of $24.52 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 10.64 and a beta of 1.08.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.31). The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.99 billion. Teck Resources had a net margin of 10.59% and a return on equity of 7.52%. On average, analysts anticipate that Teck Resources Limited will post 2.19 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be issued a dividend of $0.0911 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.36 annualized dividend and a dividend yield of 0.76%. Teck Resources’s dividend payout ratio (DPR) is presently 15.93%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Morgan Stanley raised their price objective on Teck Resources from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, June 21st. JPMorgan Chase & Co. boosted their price target on Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Finally, Benchmark increased their price objective on shares of Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.57.

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.