Fox Run Management L.L.C. Purchases New Shares in Teck Resources Limited (NYSE:TECK)

Fox Run Management L.L.C. acquired a new position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 6,186 shares of the basic materials company’s stock, valued at approximately $251,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new stake in shares of Teck Resources in the 4th quarter worth about $25,000. FPC Investment Advisory Inc. purchased a new position in Teck Resources during the 4th quarter valued at about $27,000. Global Trust Asset Management LLC bought a new stake in Teck Resources during the fourth quarter worth about $27,000. Wilmington Savings Fund Society FSB purchased a new stake in Teck Resources in the third quarter worth about $40,000. Finally, Jones Financial Companies Lllp increased its stake in shares of Teck Resources by 342.8% during the fourth quarter. Jones Financial Companies Lllp now owns 1,758 shares of the basic materials company’s stock valued at $71,000 after purchasing an additional 1,361 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

TECK has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. National Bank Financial downgraded Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Bank of America raised their price target on Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday, March 10th. Finally, Raymond James dropped their price target 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. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Teck Resources has a consensus rating of “Moderate Buy” and an average price target of $65.22.

Teck Resources Stock Performance

Shares of NYSE TECK opened at $39.35 on Friday. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The firm’s 50-day moving average price is $41.67 and its 200-day moving average price is $44.69. Teck Resources Limited has a 52-week low of $36.54 and a 52-week high of $55.13. The company has a market cap of $19.80 billion, a PE ratio of 71.54 and a beta of 0.93.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. As a group, analysts anticipate that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.0879 per share. This represents a $0.35 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources’s dividend payout ratio (DPR) is presently 61.82%.

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.