Teck Resources Limited (NYSE:TECK) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. reduced its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 61.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 596 shares of the basic materials company’s stock after selling 933 shares during the period. First Horizon Advisors Inc.’s holdings in Teck Resources were worth $31,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Daymark Wealth Partners LLC increased its position in Teck Resources by 2.8% during the third quarter. Daymark Wealth Partners LLC now owns 8,774 shares of the basic materials company’s stock worth $458,000 after purchasing an additional 242 shares during the last quarter. Cigna Investments Inc. New increased its holdings in shares of Teck Resources by 3.8% during the 2nd quarter. Cigna Investments Inc. New now owns 8,762 shares of the basic materials company’s stock worth $420,000 after buying an additional 317 shares during the last quarter. Candriam S.C.A. raised its position in shares of Teck Resources by 4.0% during the 2nd quarter. Candriam S.C.A. now owns 8,897 shares of the basic materials company’s stock valued at $426,000 after buying an additional 343 shares during the period. Evergreen Capital Management LLC lifted its holdings in Teck Resources by 7.8% in the second quarter. Evergreen Capital Management LLC now owns 5,064 shares of the basic materials company’s stock valued at $243,000 after acquiring an additional 365 shares during the last quarter. Finally, Bruce G. Allen Investments LLC grew its position in Teck Resources by 77.4% in the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 383 shares during the period. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TECK. Deutsche Bank Aktiengesellschaft downgraded Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research report on Friday, October 25th. Citigroup upgraded shares of Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. UBS Group lowered shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Scotiabank boosted their price target on shares of Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Teck Resources currently has an average rating of “Moderate Buy” and a consensus price target of $65.29.

Teck Resources Trading Up 0.6 %

Shares of TECK stock opened at $47.10 on Tuesday. Teck Resources Limited has a fifty-two week low of $35.25 and a fifty-two week high of $55.13. The company has a 50 day moving average price of $48.90 and a 200 day moving average price of $48.56. The stock has a market capitalization of $23.70 billion, a P/E ratio of 71.36 and a beta of 1.04. 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 (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.36 by $0.24. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.09 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The company’s quarterly revenue was down 20.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 earnings per share. Equities research analysts predict that Teck Resources Limited will post 1.86 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.0895 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Friday, December 13th. Teck Resources’s dividend payout ratio is currently 56.06%.

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.