180 Wealth Advisors LLC Purchases Shares of 4,865 Teck Resources Limited (NYSE:TECK)

180 Wealth Advisors LLC acquired a new position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,865 shares of the basic materials company’s stock, valued at approximately $223,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Ninety One SA PTY Ltd raised its stake in Teck Resources by 45.1% during the fourth quarter. Ninety One SA PTY Ltd now owns 147,093 shares of the basic materials company’s stock worth $6,236,000 after acquiring an additional 45,750 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Teck Resources by 45.7% during the 4th quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock worth $280,491,000 after purchasing an additional 2,080,295 shares in the last quarter. AGF Management Ltd. increased its position in shares of Teck Resources by 13.4% during the 4th quarter. AGF Management Ltd. now owns 136,376 shares of the basic materials company’s stock worth $5,785,000 after purchasing an additional 16,141 shares in the last quarter. Douglas Lane & Associates LLC lifted its holdings in Teck Resources by 54.3% during the 4th quarter. Douglas Lane & Associates LLC now owns 663,366 shares of the basic materials company’s stock valued at $28,040,000 after purchasing an additional 233,361 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Teck Resources by 37.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,935,979 shares of the basic materials company’s stock valued at $81,966,000 after buying an additional 526,611 shares in the last quarter. 78.06% of the stock is owned by institutional investors.

Teck Resources Price Performance

NYSE:TECK opened at $47.89 on Friday. The firm’s fifty day moving average price is $49.72 and its two-hundred day moving average price is $44.41. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.49 and a quick ratio of 0.86. The company has a market cap of $24.46 billion, a P/E ratio of 21.19, a P/E/G ratio of 10.37 and a beta of 1.08. Teck Resources Limited has a one year low of $34.38 and a one year high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.31). The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.99 billion. Teck Resources had a net margin of 10.59% and a return on equity of 7.52%. Equities analysts expect that Teck Resources Limited will post 2.24 earnings per share for the current year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were issued a dividend of $0.0911 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Monday, June 17th. Teck Resources’s dividend payout ratio (DPR) is presently 15.93%.

Analysts Set New Price Targets

TECK has been the subject of several research analyst reports. Benchmark lifted their price objective on Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Morgan Stanley lifted their price target 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. increased their price objective on shares of Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $58.57.

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.