Atria Investments Inc Buys 4,914 Shares of Teck Resources Limited (NYSE:TECK)

Atria Investments Inc raised its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 18.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,759 shares of the basic materials company’s stock after purchasing an additional 4,914 shares during the period. Atria Investments Inc’s holdings in Teck Resources were worth $1,659,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Daymark Wealth Partners LLC lifted its position in Teck Resources by 2.8% during the 3rd quarter. Daymark Wealth Partners LLC now owns 8,774 shares of the basic materials company’s stock worth $458,000 after acquiring an additional 242 shares during the period. Cigna Investments Inc. New boosted its holdings in shares of Teck Resources by 3.8% during the 2nd quarter. Cigna Investments Inc. New now owns 8,762 shares of the basic materials company’s stock worth $420,000 after purchasing an additional 317 shares during the last quarter. Candriam S.C.A. grew its holdings in shares of Teck Resources by 4.0% in the second quarter. Candriam S.C.A. now owns 8,897 shares of the basic materials company’s stock valued at $426,000 after purchasing an additional 343 shares during the period. Evergreen Capital Management LLC increased its stake in Teck Resources by 7.8% during the second quarter. Evergreen Capital Management LLC now owns 5,064 shares of the basic materials company’s stock worth $243,000 after acquiring an additional 365 shares during the last quarter. Finally, Bruce G. Allen Investments LLC lifted its position in Teck Resources by 77.4% in the third 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 during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Benchmark reiterated a “buy” rating and issued a $55.00 price objective on shares of Teck Resources in a report on Thursday, July 25th. Scotiabank increased their price target on Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a report on Tuesday, October 8th. Citigroup raised Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. UBS Group downgraded Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Finally, Deutsche Bank Aktiengesellschaft cut shares of 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. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $65.29.

Teck Resources Trading Down 0.9 %

Shares of NYSE TECK opened at $44.99 on Friday. The stock has a market cap of $22.68 billion, a P/E ratio of 68.17 and a beta of 1.04. 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 Limited has a 52-week low of $34.56 and a 52-week high of $55.13. The firm has a 50 day moving average price of $48.73 and a two-hundred day moving average price of $48.66.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.36 by $0.24. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The company’s quarterly revenue was down 20.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 EPS. As a group, equities analysts forecast that Teck Resources Limited will post 1.84 EPS for the current year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.0895 per share. This represents a $0.36 annualized dividend and a yield of 0.80%. The ex-dividend date is Friday, December 13th. Teck Resources’s dividend payout ratio is currently 56.06%.

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.