Recurrent Investment Advisors LLC Has $2.02 Million Stake in Teck Resources Limited (NYSE:TECK)

Recurrent Investment Advisors LLC decreased its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 53.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,580 shares of the basic materials company’s stock after selling 44,786 shares during the quarter. Teck Resources makes up about 0.2% of Recurrent Investment Advisors LLC’s investment portfolio, making the stock its 29th largest position. Recurrent Investment Advisors LLC’s holdings in Teck Resources were worth $2,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. Cetera Investment Advisers raised its position in Teck Resources by 486.8% in the 1st quarter. Cetera Investment Advisers now owns 36,972 shares of the basic materials company’s stock valued at $1,693,000 after purchasing an additional 30,671 shares during the last quarter. Cetera Advisors LLC bought a new position in Teck Resources in the 1st quarter valued at $391,000. U.S. Capital Wealth Advisors LLC bought a new stake in shares of Teck Resources during the second quarter worth $466,000. Artemis Investment Management LLP bought a new stake in shares of Teck Resources during the second quarter worth $8,170,000. Finally, Sequoia Financial Advisors LLC raised its position in shares of Teck Resources by 8.6% during the second quarter. Sequoia Financial Advisors LLC now owns 9,815 shares of the basic materials company’s stock worth $470,000 after acquiring an additional 776 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Down 0.7 %

NYSE:TECK opened at $45.79 on Thursday. Teck Resources Limited has a 1 year low of $36.50 and a 1 year high of $55.13. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The stock has a market cap of $23.46 billion, a price-to-earnings ratio of 69.37 and a beta of 1.03. The stock has a 50-day moving average price of $48.52 and a two-hundred day moving average price of $48.26.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.24. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. Teck Resources’s revenue for the quarter was down 20.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 earnings per share. As a group, equities analysts expect that Teck Resources Limited will post 1.82 earnings per share for the current year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.0895 per share. The ex-dividend date is Friday, December 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.78%. Teck Resources’s dividend payout ratio is currently 56.06%.

Analyst Ratings Changes

A number of brokerages recently commented on TECK. StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Scotiabank lifted their price objective on Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, October 8th. UBS Group cut 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. Finally, JPMorgan Chase & Co. decreased their price objective on Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $65.29.

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.