Anchor Capital Advisors LLC Decreases Stake in Teck Resources Limited (NYSE:TECK)

Anchor Capital Advisors LLC reduced its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 22.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 320,377 shares of the basic materials company’s stock after selling 90,544 shares during the period. Anchor Capital Advisors LLC’s holdings in Teck Resources were worth $12,985,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. AMF Tjanstepension AB increased its stake in shares of Teck Resources by 3.9% during the third quarter. AMF Tjanstepension AB now owns 4,552,507 shares of the basic materials company’s stock valued at $238,055,000 after buying an additional 169,476 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Teck Resources during the third quarter valued at approximately $10,818,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Teck Resources during the third quarter valued at approximately $756,000. Nisa Investment Advisors LLC increased its stake in shares of Teck Resources by 1,291.3% during the third quarter. Nisa Investment Advisors LLC now owns 3,200 shares of the basic materials company’s stock valued at $167,000 after buying an additional 2,970 shares during the period. Finally, US Bancorp DE increased its stake in shares of Teck Resources by 27.9% during the third quarter. US Bancorp DE now owns 21,548 shares of the basic materials company’s stock valued at $1,126,000 after buying an additional 4,704 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Trading Down 2.7 %

Teck Resources stock opened at $40.26 on Friday. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The business’s fifty day simple moving average is $41.91 and its two-hundred day simple moving average is $45.64. Teck Resources Limited has a 12 month low of $37.30 and a 12 month high of $55.13. The company has a market capitalization of $20.08 billion, a price-to-earnings ratio of 73.19 and a beta of 1.02.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.58 billion. As a group, equities analysts predict that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.0879 dividend. This represents a $0.35 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources’s dividend payout ratio (DPR) is 61.82%.

Wall Street Analysts Forecast Growth

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