Atlas Capital Advisors LLC Has $226,000 Holdings in Teck Resources Limited (NYSE:TECK)

Atlas Capital Advisors LLC decreased its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 16.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,930 shares of the basic materials company’s stock after selling 975 shares during the period. Atlas Capital Advisors LLC’s holdings in Teck Resources were worth $226,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. HighTower Advisors LLC raised its position in Teck Resources by 20.9% during the third quarter. HighTower Advisors LLC now owns 21,334 shares of the basic materials company’s stock valued at $917,000 after acquiring an additional 3,695 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Teck Resources by 9.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 10,492 shares of the basic materials company’s stock valued at $452,000 after acquiring an additional 865 shares during the last quarter. Kestra Advisory Services LLC raised its stake in shares of Teck Resources by 4.1% in the 3rd quarter. Kestra Advisory Services LLC now owns 11,511 shares of the basic materials company’s stock valued at $496,000 after acquiring an additional 455 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Teck Resources by 105.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 278,208 shares of the basic materials company’s stock worth $11,988,000 after purchasing an additional 143,056 shares during the last quarter. Finally, Mariner LLC boosted its position in Teck Resources by 6.1% during the third quarter. Mariner LLC now owns 22,727 shares of the basic materials company’s stock worth $979,000 after purchasing an additional 1,306 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Price Performance

Shares of Teck Resources stock opened at $48.01 on Friday. The firm has a market cap of $24.52 billion, a P/E ratio of 21.24, a price-to-earnings-growth ratio of 10.64 and a beta of 1.08. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.49. Teck Resources Limited has a twelve month low of $34.38 and a twelve month high of $55.13. The firm’s 50-day simple moving average is $49.70 and its 200-day simple moving average is $44.34.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Thursday, April 25th. The basic materials company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.31). Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. The firm had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.99 billion. As a group, research analysts expect that Teck Resources Limited will post 2.19 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be given a dividend of $0.0911 per share. The ex-dividend date is Monday, June 17th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.76%. Teck Resources’s payout ratio is 15.93%.

Analyst Upgrades and Downgrades

TECK has been the subject of a number of analyst reports. Benchmark boosted their price objective on shares of Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Morgan Stanley raised their target price on Teck Resources from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, June 21st. Finally, JPMorgan Chase & Co. upped their price target on Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.57.

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.