Wilmington Savings Fund Society FSB Makes New Investment in Teck Resources Limited (NYSE:TECK)

Wilmington Savings Fund Society FSB acquired a new stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 758 shares of the basic materials company’s stock, valued at approximately $40,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Eastern Bank acquired a new position in Teck Resources in the 3rd quarter valued at approximately $39,000. Headlands Technologies LLC acquired a new position in shares of Teck Resources in the second quarter valued at $38,000. Bruce G. Allen Investments LLC lifted 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 purchasing an additional 383 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in Teck Resources by 69.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after buying an additional 409 shares in the last quarter. Finally, HHM Wealth Advisors LLC bought a new stake in Teck Resources in the 2nd quarter valued at $67,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Trading Up 2.4 %

Shares of NYSE TECK opened at $40.94 on Monday. Teck Resources Limited has a 1-year low of $36.50 and a 1-year high of $55.13. The company has a 50-day moving average of $46.67 and a two-hundred day moving average of $47.58. The company has a market cap of $20.97 billion, a PE ratio of 62.03 and a beta of 1.03. 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 (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data 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. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.09 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The business’s revenue for the quarter was down 20.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 EPS. As a group, equities analysts expect that Teck Resources Limited will post 1.81 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.0895 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.87%. Teck Resources’s payout ratio is 56.06%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TECK. Citigroup upgraded shares of Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. cut their target price on Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Scotiabank lifted their price objective on Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a report on Tuesday, October 8th. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Teck Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.29.

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.