Banque Cantonale Vaudoise Has $66,000 Stake in Teck Resources Limited (NYSE:TECK)

Banque Cantonale Vaudoise cut its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 40.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,270 shares of the basic materials company’s stock after selling 879 shares during the period. Banque Cantonale Vaudoise’s holdings in Teck Resources were worth $66,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Eastern Bank acquired a new stake in shares of Teck Resources in the 3rd quarter valued at about $39,000. Headlands Technologies LLC acquired a new stake in shares of Teck Resources in the 2nd quarter valued at about $38,000. Bruce G. Allen Investments LLC grew its stake in shares of Teck Resources by 77.4% in the 3rd 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 period. Massmutual Trust Co. FSB ADV grew its stake in shares of Teck Resources by 69.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after buying an additional 409 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Teck Resources by 583.1% in the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock valued at $48,000 after buying an additional 898 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Stock Performance

Shares of TECK stock opened at $46.81 on Friday. The firm has a market cap of $23.55 billion, a price-to-earnings ratio of 70.92 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 $35.25 and a 52 week high of $55.13. The firm’s 50-day simple moving average is $48.90 and its two-hundred day simple moving average is $48.58.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data 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 business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.09 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The company’s revenue for the quarter was down 20.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 earnings per share. As a group, equities analysts forecast that Teck Resources Limited will post 1.86 earnings per share for the current year.

Teck Resources Cuts Dividend

The business 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 $0.0895 dividend. This represents a $0.36 annualized dividend and a yield of 0.76%. The ex-dividend date is Friday, December 13th. Teck Resources’s dividend payout ratio is 56.06%.

Analysts Set New Price Targets

Several brokerages recently weighed in on TECK. UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft cut shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research report on Friday, October 25th. Scotiabank raised their price target on shares of Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Tuesday, October 8th. Citigroup raised shares of Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.29.

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.