US Bancorp DE Sells 788 Shares of Teck Resources Limited (NYSE:TECK)

US Bancorp DE decreased its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 3.7% in the 4th quarter, HoldingsChannel reports. The firm owned 20,760 shares of the basic materials company’s stock after selling 788 shares during the quarter. US Bancorp DE’s holdings in Teck Resources were worth $841,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TECK. Synergy Asset Management LLC lifted its holdings in shares of Teck Resources by 77.7% in the fourth quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company’s stock worth $685,000 after acquiring an additional 7,387 shares during the last quarter. Forest Avenue Capital Management LP increased its stake in shares of Teck Resources by 3.7% in the third quarter. Forest Avenue Capital Management LP now owns 720,920 shares of the basic materials company’s stock valued at $37,661,000 after buying an additional 25,430 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Teck Resources in the third quarter valued at approximately $1,937,000. Intech Investment Management LLC increased its stake in shares of Teck Resources by 20.9% in the third quarter. Intech Investment Management LLC now owns 98,145 shares of the basic materials company’s stock valued at $5,132,000 after buying an additional 16,981 shares during the period. Finally, CIBC Asset Management Inc increased its stake in shares of Teck Resources by 2.6% in the third quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company’s stock valued at $341,337,000 after buying an additional 165,759 shares during the period. Institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Down 6.0 %

Shares of TECK opened at $37.41 on Tuesday. The business has a 50-day moving average of $41.80 and a 200 day moving average of $45.24. Teck Resources Limited has a fifty-two week low of $36.54 and a fifty-two week high of $55.13. The firm has a market cap of $18.58 billion, a P/E ratio of 68.02 and a beta of 0.93. 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 earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. As a group, research analysts forecast that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

The business 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 dividend of $0.0879 per share. This represents a $0.35 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources’s payout ratio is presently 61.82%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TECK. National Bank Financial downgraded Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Bank of America upped their price objective on Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday. UBS Group downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. decreased their target price on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Finally, Raymond James decreased their target price on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $65.22.

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.