Quent Capital LLC Sells 607 Shares of Teck Resources Limited (NYSE:TECK)

Quent Capital LLC cut its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 23.3% in the fourth quarter, HoldingsChannel reports. The firm owned 2,000 shares of the basic materials company’s stock after selling 607 shares during the period. Quent Capital LLC’s holdings in Teck Resources were worth $81,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Synergy Asset Management LLC boosted its holdings in 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 purchasing an additional 7,387 shares in the last quarter. Forest Avenue Capital Management LP lifted its position in Teck Resources by 3.7% during the 3rd quarter. Forest Avenue Capital Management LP now owns 720,920 shares of the basic materials company’s stock worth $37,661,000 after acquiring an additional 25,430 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Teck Resources during the 3rd quarter worth $1,937,000. CIBC Asset Management Inc lifted its position in Teck Resources by 2.6% during the 3rd quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company’s stock worth $341,337,000 after acquiring an additional 165,759 shares during the last quarter. Finally, Intech Investment Management LLC lifted its position in 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 worth $5,132,000 after acquiring an additional 16,981 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TECK has been the subject of a number of research analyst reports. StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. cut 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. National Bank Financial lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Raymond James cut 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. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research report on Friday, October 25th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Teck Resources has a consensus rating of “Moderate Buy” and an average target price of $65.38.

Teck Resources Stock Performance

NYSE TECK opened at $42.98 on Thursday. The stock has a market cap of $21.44 billion, a P/E ratio of 65.12 and a beta of 1.02. The company’s 50-day simple moving average is $42.30 and its 200 day simple moving average is $45.90. Teck Resources Limited has a twelve month low of $36.50 and a twelve month high of $55.13. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a $0.0895 dividend. 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 0.83%. Teck Resources’s payout ratio is currently 53.03%.

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.