Bessemer Group Inc. Reduces Stock Position in Teck Resources Limited (NYSE:TECK)

Bessemer Group Inc. decreased its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 88.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 656 shares of the basic materials company’s stock after selling 4,887 shares during the period. Bessemer Group Inc.’s holdings in Teck Resources were worth $27,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Stonebridge Financial Group LLC purchased a new position in Teck Resources in the 4th quarter worth about $25,000. Global Trust Asset Management LLC bought a new position in Teck Resources in the 4th quarter worth about $27,000. FPC Investment Advisory Inc. bought a new position in Teck Resources in the 4th quarter worth about $27,000. Community Bank N.A. purchased a new position in shares of Teck Resources during the fourth quarter worth approximately $33,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Teck Resources during the third quarter valued at approximately $40,000. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Trading Down 1.6 %

Teck Resources stock opened at $32.90 on Friday. Teck Resources Limited has a one year low of $28.32 and a one year high of $55.13. The stock has a market cap of $16.28 billion, a PE ratio of 59.82 and a beta of 0.81. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The stock has a 50-day moving average of $38.60 and a two-hundred day moving average of $42.95.

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 analysts’ consensus estimates of $0.26 by $0.07. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.58 billion. On average, research analysts anticipate that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.0879 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a yield of 1.07%. Teck Resources’s dividend payout ratio (DPR) is 61.82%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TECK. Desjardins initiated coverage on Teck Resources in a research note on Friday, April 4th. They issued a “buy” rating on the stock. National Bankshares reiterated a “sector perform” rating on shares of Teck Resources in a report on Wednesday, April 2nd. JPMorgan Chase & Co. reduced their price target on shares of Teck Resources from $50.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Raymond James dropped their price objective on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. Finally, UBS Group restated a “neutral” rating on shares of Teck Resources in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Teck Resources currently has a consensus rating of “Moderate Buy” and an average price target of $64.11.

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.