Teck Resources Limited (NYSE:TECK) Stock Holdings Increased by Synergy Asset Management LLC

Synergy Asset Management LLC raised its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 77.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,892 shares of the basic materials company’s stock after buying an additional 7,387 shares during the period. Synergy Asset Management LLC’s holdings in Teck Resources were worth $685,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TECK. Forest Avenue Capital Management LP lifted its position in shares of Teck Resources by 3.7% in the 3rd quarter. Forest Avenue Capital Management LP now owns 720,920 shares of the basic materials company’s stock valued at $37,661,000 after acquiring an additional 25,430 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Teck Resources during the third quarter valued at $1,937,000. CIBC Asset Management Inc raised its position in Teck Resources by 2.6% during 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. Intech Investment Management LLC lifted its holdings in shares of Teck Resources by 20.9% during the 3rd 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 last quarter. Finally, Paloma Partners Management Co acquired a new position in Teck Resources in the third quarter worth approximately $20,896,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Performance

TECK opened at $41.06 on Thursday. The stock has a market cap of $20.48 billion, a PE ratio of 62.22 and a beta of 1.05. Teck Resources Limited has a 1 year low of $36.50 and a 1 year high of $55.13. The stock’s 50 day simple moving average is $43.17 and its 200-day simple moving average is $46.25. 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 Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a $0.0895 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Friday, December 13th. Teck Resources’s dividend payout ratio is 53.03%.

Analyst Upgrades and Downgrades

TECK has been the topic of several analyst reports. UBS Group lowered shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Citigroup raised Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft downgraded Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a report on Friday, October 25th. Raymond James lowered their target price on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. Finally, Scotiabank boosted their target price on shares of Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, October 8th. Six research 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $65.38.

Teck Resources 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.