Teck Resources Limited (NYSE:TECK) Shares Sold by Alan B Lancz & Associates Inc.

Alan B Lancz & Associates Inc. decreased its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 12.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,850 shares of the basic materials company’s stock after selling 1,400 shares during the quarter. Alan B Lancz & Associates Inc.’s holdings in Teck Resources were worth $399,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sei Investments Co. boosted its position in Teck Resources by 25.0% in the 2nd quarter. Sei Investments Co. now owns 168,226 shares of the basic materials company’s stock worth $8,058,000 after purchasing an additional 33,664 shares in the last quarter. Evergreen Capital Management LLC lifted its stake in shares of Teck Resources by 7.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 5,064 shares of the basic materials company’s stock valued at $243,000 after purchasing an additional 365 shares during the period. Insigneo Advisory Services LLC purchased a new stake in Teck Resources during the second quarter worth $240,000. AQR Capital Management LLC purchased a new stake in Teck Resources during the second quarter worth $213,000. Finally, APG Asset Management N.V. grew its position in Teck Resources by 890.0% during the second quarter. APG Asset Management N.V. now owns 88,112 shares of the basic materials company’s stock valued at $3,939,000 after buying an additional 79,212 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Trading Up 0.1 %

Shares of TECK stock opened at $43.39 on Friday. Teck Resources Limited has a fifty-two week low of $36.50 and a fifty-two week high of $55.13. The firm has a market capitalization of $21.64 billion, a P/E ratio of 65.74 and a beta of 1.05. The stock’s fifty day moving average is $43.49 and its two-hundred day moving average is $46.43. 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 (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.24. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.09 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. Teck Resources’s quarterly revenue was down 20.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 earnings per share. Research analysts expect that Teck Resources Limited will post 1.69 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a dividend of $0.0895 per share. This represents a $0.36 annualized dividend 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%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research note on Friday, October 25th. UBS Group downgraded Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Scotiabank boosted their price objective on Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Tuesday, October 8th. StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Teck Resources has an average rating of “Moderate Buy” and a consensus price target of $65.38.

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.