Louisbourg Investments Inc. Increases Stock Holdings in Teck Resources Limited (NYSE:TECK)

Louisbourg Investments Inc. lifted its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,746 shares of the basic materials company’s stock after purchasing an additional 3,278 shares during the quarter. Teck Resources comprises approximately 1.3% of Louisbourg Investments Inc.’s portfolio, making the stock its 27th biggest position. Louisbourg Investments Inc.’s holdings in Teck Resources were worth $5,339,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Exchange Traded Concepts LLC increased its position in Teck Resources by 7.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company’s stock worth $198,000 after purchasing an additional 327 shares during the period. OLD National Bancorp IN boosted its stake in shares of Teck Resources by 7.4% in the fourth quarter. OLD National Bancorp IN now owns 4,955 shares of the basic materials company’s stock valued at $201,000 after buying an additional 341 shares in the last quarter. Park Avenue Securities LLC boosted its stake in shares of Teck Resources by 5.7% in the fourth quarter. Park Avenue Securities LLC now owns 8,960 shares of the basic materials company’s stock valued at $363,000 after buying an additional 486 shares in the last quarter. Fulton Bank N.A. raised its position in Teck Resources by 6.5% in the fourth quarter. Fulton Bank N.A. now owns 8,218 shares of the basic materials company’s stock worth $333,000 after acquiring an additional 499 shares in the last quarter. Finally, Bourgeon Capital Management LLC raised its position in Teck Resources by 7.7% in the fourth quarter. Bourgeon Capital Management LLC now owns 7,000 shares of the basic materials company’s stock worth $284,000 after acquiring an additional 500 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TECK has been the topic of a number of recent analyst reports. Raymond James lowered 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. StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft downgraded Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. decreased their target price 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. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Teck Resources currently has a consensus rating of “Moderate Buy” and an average target price of $65.38.

Teck Resources Stock Down 2.1 %

TECK opened at $42.28 on Wednesday. The firm has a market cap of $21.09 billion, a P/E ratio of 64.06 and a beta of 1.02. The business’s fifty day simple moving average is $42.36 and its 200 day simple moving average is $45.92. Teck Resources Limited has a 52 week low of $36.50 and a 52 week high of $55.13. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16.

Teck Resources Cuts Dividend

The company also recently declared 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. The ex-dividend date was Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.85%. Teck Resources’s dividend payout ratio (DPR) is presently 53.03%.

Teck Resources Company 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.