Flagship Harbor Advisors LLC Sells 500 Shares of Teck Resources Limited (NYSE:TECK)

Flagship Harbor Advisors LLC lessened its stake in Teck Resources Limited (NYSE:TECKFree Report) (TSE:TECK) by 7.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,941 shares of the basic materials company’s stock after selling 500 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Teck Resources were worth $241,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Global Trust Asset Management LLC bought a new stake in shares of Teck Resources in the fourth quarter valued at $27,000. Eastern Bank bought a new stake in Teck Resources in the 3rd quarter valued at about $39,000. Wilmington Savings Fund Society FSB purchased a new stake in Teck Resources during the third quarter valued at about $40,000. Bruce G. Allen Investments LLC boosted its position in Teck Resources by 77.4% during 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. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Teck Resources by 69.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 409 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

Shares of NYSE:TECK opened at $41.06 on Thursday. Teck Resources Limited has a one year low of $36.50 and a one year high of $55.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The firm has a market capitalization of $20.48 billion, a price-to-earnings ratio of 62.22 and a beta of 1.05. The company’s fifty day moving average price is $43.17 and its 200-day moving average price is $46.25.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a dividend of $0.0895 per share. The ex-dividend date of this dividend was 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 53.03%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. National Bank Financial lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft cut Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research report on Friday, October 25th. Citigroup upgraded Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. Scotiabank upped their price target on Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Tuesday, October 8th. Finally, UBS Group lowered shares of Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.38.

Check Out Our Latest Stock Report on TECK

Teck Resources Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding TECK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Teck Resources Limited (NYSE:TECKFree Report) (TSE:TECK).

Institutional Ownership by Quarter for Teck Resources (NYSE:TECK)

Receive News & Ratings for Teck Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teck Resources and related companies with MarketBeat.com's FREE daily email newsletter.