LGT Group Foundation Invests $425,000 in Teck Resources Limited (NYSE:TECK)

LGT Group Foundation purchased a new position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 10,500 shares of the basic materials company’s stock, valued at approximately $425,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Stonebridge Financial Group LLC bought a new stake in shares of Teck Resources during the 4th quarter worth approximately $25,000. FPC Investment Advisory Inc. bought a new stake in shares of Teck Resources during the 4th quarter worth approximately $27,000. Global Trust Asset Management LLC bought a new stake in shares of Teck Resources during the 4th quarter worth approximately $27,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Teck Resources during the 3rd quarter worth approximately $40,000. Finally, Jones Financial Companies Lllp lifted its holdings 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 during the period. Institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

TECK stock opened at $39.52 on Tuesday. The company has a fifty day moving average price of $41.90 and a 200-day moving average price of $45.55. The company has a market capitalization of $19.63 billion, a P/E ratio of 71.86 and a beta of 1.02. Teck Resources Limited has a 52-week low of $38.69 and a 52-week high of $55.13. 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 released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.07. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. As a group, equities analysts expect that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 0.89%. The ex-dividend date is Friday, March 14th. Teck Resources’s dividend payout ratio (DPR) is presently 61.82%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. National Bank Financial downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Raymond James dropped their price objective on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. Finally, UBS Group downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Teck Resources currently has an average rating of “Moderate Buy” and an average target price of $65.38.

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.