Quattro Financial Advisors LLC Boosts Stock Holdings in Teck Resources Limited (NYSE:TECK)

Quattro Financial Advisors LLC raised its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 81.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 27,620 shares of the basic materials company’s stock after purchasing an additional 12,433 shares during the quarter. Quattro Financial Advisors LLC’s holdings in Teck Resources were worth $1,200,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC acquired a new stake in shares of Teck Resources in the fourth quarter valued at about $27,000. Eastern Bank purchased a new position in Teck Resources in the third quarter valued at about $39,000. Wilmington Savings Fund Society FSB purchased a new position in Teck Resources in the third quarter valued at about $40,000. Bruce G. Allen Investments LLC lifted its position in shares of Teck Resources by 77.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 383 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Teck Resources during the 4th quarter worth approximately $117,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. dropped their price target on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. UBS Group lowered shares of Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft downgraded shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 target price for the company. in a report on Friday, October 25th. Finally, National Bank Financial downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $65.38.

Teck Resources Stock Performance

Shares of TECK opened at $43.04 on Friday. The company has a market capitalization of $21.46 billion, a price-to-earnings ratio of 65.21 and a beta of 1.02. 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 Limited has a 1 year low of $36.50 and a 1 year high of $55.13. The company’s 50 day simple moving average is $42.57 and its 200 day simple moving average is $45.99.

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 given a $0.0895 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Friday, December 13th. Teck Resources’s dividend payout ratio is currently 53.03%.

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.