650 Shares in Teck Resources Limited (NYSE:TECK) Acquired by FPC Investment Advisory Inc.

FPC Investment Advisory Inc. bought a new stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) during the 4th quarter, Holdings Channel.com reports. The fund bought 650 shares of the basic materials company’s stock, valued at approximately $27,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TECK. AMF Tjanstepension AB grew its holdings in Teck Resources by 3.9% in the third quarter. AMF Tjanstepension AB now owns 4,552,507 shares of the basic materials company’s stock worth $238,055,000 after purchasing an additional 169,476 shares during the last quarter. Creative Planning boosted its position in shares of Teck Resources by 14.3% in the 3rd quarter. Creative Planning now owns 43,224 shares of the basic materials company’s stock worth $2,258,000 after purchasing an additional 5,403 shares in the last quarter. Blue Trust Inc. grew its stake in Teck Resources by 178.2% during the 3rd quarter. Blue Trust Inc. now owns 2,927 shares of the basic materials company’s stock worth $140,000 after buying an additional 1,875 shares during the last quarter. Raymond James & Associates increased its position in Teck Resources by 34.5% during the 3rd quarter. Raymond James & Associates now owns 407,868 shares of the basic materials company’s stock valued at $21,307,000 after buying an additional 104,573 shares in the last quarter. Finally, Eastern Bank purchased a new stake in Teck Resources in the third quarter valued at about $39,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TECK. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. lowered 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 note on Thursday, January 16th. UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Finally, Raymond James lowered 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 note on Wednesday, January 22nd. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.38.

Teck Resources Stock Performance

Shares of TECK stock opened at $41.12 on Friday. The firm has a market capitalization of $20.51 billion, a price-to-earnings ratio of 74.76 and a beta of 1.02. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The business has a fifty day moving average of $41.95 and a 200 day moving average of $45.72. Teck Resources Limited has a 1 year low of $37.30 and a 1 year high of $55.13.

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 analysts’ consensus estimates of $0.26 by $0.07. The company 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 expect that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.0879 per share. The ex-dividend date is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.86%. Teck Resources’s payout ratio is currently 63.64%.

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.