Community Bank N.A. Purchases Shares of 804 Teck Resources Limited (NYSE:TECK)

Community Bank N.A. purchased a new stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 804 shares of the basic materials company’s stock, valued at approximately $33,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new stake in shares of Teck Resources during the 4th quarter worth $25,000. Global Trust Asset Management LLC bought a new stake in shares of Teck Resources during the 4th quarter worth $27,000. FPC Investment Advisory Inc. bought a new stake in shares of Teck Resources during the 4th quarter worth $27,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Teck Resources during the 3rd quarter worth $40,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of Teck Resources by 342.8% during the 4th quarter. Jones Financial Companies Lllp now owns 1,758 shares of the basic materials company’s stock worth $71,000 after acquiring an additional 1,361 shares in the last quarter. 78.06% of the stock is owned by institutional investors.

Teck Resources Price Performance

Shares of NYSE:TECK opened at $41.53 on Monday. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. Teck Resources Limited has a 1 year low of $36.54 and a 1 year high of $55.13. The business has a fifty day simple moving average of $41.79 and a 200 day simple moving average of $44.78. The firm has a market cap of $20.90 billion, a price-to-earnings ratio of 75.50 and a beta of 0.93.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. The business 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, sell-side analysts predict that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.0879 per share. This represents a $0.35 annualized dividend and a yield of 0.85%. The ex-dividend date is Friday, March 14th. Teck Resources’s payout ratio is 61.82%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Bank of America raised their price objective on Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Raymond James reduced their target price on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. reduced their target price on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Teck Resources currently has a consensus rating of “Moderate Buy” and an average target price of $65.22.

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.