Global Retirement Partners LLC Sells 317 Shares of Teck Resources Limited (NYSE:TECK)

Global Retirement Partners LLC cut its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 25.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 940 shares of the basic materials company’s stock after selling 317 shares during the quarter. Global Retirement Partners LLC’s holdings in Teck Resources were worth $38,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Exchange Traded Concepts LLC lifted its holdings in shares of Teck Resources by 7.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company’s stock worth $198,000 after purchasing an additional 327 shares in the last quarter. OLD National Bancorp IN lifted its position in shares of Teck Resources by 7.4% during the 4th quarter. OLD National Bancorp IN now owns 4,955 shares of the basic materials company’s stock valued at $201,000 after buying an additional 341 shares during the last quarter. Sanctuary Advisors LLC boosted its position in Teck Resources by 1.6% during the fourth quarter. Sanctuary Advisors LLC now owns 31,319 shares of the basic materials company’s stock worth $1,306,000 after purchasing an additional 479 shares during the period. Park Avenue Securities LLC raised its holdings in Teck Resources by 5.7% during the 4th quarter. Park Avenue Securities LLC now owns 8,960 shares of the basic materials company’s stock valued at $363,000 after acquiring an additional 486 shares during the period. Finally, Fulton Bank N.A. lifted its holdings in Teck Resources by 6.5% during the 4th quarter. Fulton Bank N.A. now owns 8,218 shares of the basic materials company’s stock worth $333,000 after purchasing an additional 499 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Up 0.2 %

Shares of NYSE:TECK opened at $40.33 on Friday. Teck Resources Limited has a 12-month low of $37.80 and a 12-month high of $55.13. The stock has a market capitalization of $20.03 billion, a price-to-earnings ratio of 73.32 and a beta of 1.02. The stock has a fifty day simple moving average of $41.90 and a two-hundred day simple moving average of $45.56. 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 earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.58 billion. On average, research analysts anticipate that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.0879 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources’s dividend payout ratio is 61.82%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Raymond James decreased their price target on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. decreased their price objective on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Finally, National Bank Financial cut Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $65.38.

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.