Country Club Bank Sells 8,742 Shares of Teck Resources Limited (NYSE:TECK)

Country Club Bank lessened its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 19.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,912 shares of the basic materials company’s stock after selling 8,742 shares during the quarter. Country Club Bank’s holdings in Teck Resources were worth $1,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in TECK. Global Trust Asset Management LLC purchased a new stake in Teck Resources during the fourth quarter valued at about $27,000. Eastern Bank bought a new stake in shares of Teck Resources in the third quarter valued at approximately $39,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Teck Resources during the 3rd quarter valued at approximately $40,000. Bruce G. Allen Investments LLC lifted its stake in shares of Teck Resources by 77.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock valued at $46,000 after buying an additional 383 shares in the last quarter. Finally, R Squared Ltd bought a new position in Teck Resources in the 4th quarter worth approximately $117,000. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Price Performance

Shares of NYSE:TECK opened at $42.53 on Thursday. The company’s fifty day moving average price is $42.64 and its 200-day moving average price is $46.01. 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 firm has a market capitalization of $21.21 billion, a price-to-earnings ratio of 64.44 and a beta of 1.02. Teck Resources Limited has a one year low of $36.50 and a one year high of $55.13.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a dividend of $0.0895 per share. 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 0.84%. Teck Resources’s payout ratio is 53.03%.

Analyst Ratings Changes

Several equities research analysts have issued reports on TECK shares. Raymond James dropped their target price on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft cut Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a report on Friday, October 25th. UBS Group downgraded Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. cut their price objective 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. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Teck Resources has a consensus rating of “Moderate Buy” and an average target price of $65.38.

About Teck Resources

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.