Park Avenue Securities LLC Has $363,000 Position in Teck Resources Limited (NYSE:TECK)

Park Avenue Securities LLC boosted its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 5.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,960 shares of the basic materials company’s stock after purchasing an additional 486 shares during the quarter. Park Avenue Securities LLC’s holdings in Teck Resources were worth $363,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Daymark Wealth Partners LLC lifted its holdings in shares of Teck Resources by 2.8% in the 3rd quarter. Daymark Wealth Partners LLC now owns 8,774 shares of the basic materials company’s stock worth $458,000 after purchasing an additional 242 shares in the last quarter. Evergreen Capital Management LLC lifted its stake in shares of Teck Resources by 7.8% in the second quarter. Evergreen Capital Management LLC now owns 5,064 shares of the basic materials company’s stock valued at $243,000 after buying an additional 365 shares in the last quarter. Bruce G. Allen Investments LLC grew its holdings in shares of Teck Resources by 77.4% during 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. Massmutual Trust Co. FSB ADV increased its position in shares of Teck Resources by 69.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 409 shares in the last quarter. Finally, Fulton Bank N.A. raised its holdings in shares of Teck Resources by 6.5% in the 4th quarter. Fulton Bank N.A. now owns 8,218 shares of the basic materials company’s stock worth $333,000 after acquiring an additional 499 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the company. JPMorgan Chase & Co. decreased their price objective on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. UBS Group downgraded Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Scotiabank increased their price target on Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Tuesday, October 8th. StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 target price for the company. in a report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Teck Resources currently has an average rating of “Moderate Buy” and an average price target of $65.38.

Teck Resources Stock Up 0.1 %

Teck Resources stock opened at $43.39 on Friday. Teck Resources Limited has a twelve month low of $36.50 and a twelve month high of $55.13. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average price of $43.49 and a 200-day moving average price of $46.44. The company has a market capitalization of $21.64 billion, a P/E ratio of 65.74 and a beta of 1.05.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.24. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.09 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The business’s revenue for the quarter was down 20.6% on a year-over-year basis. During the same period last year, the business posted $0.57 earnings per share. As a group, equities analysts predict that Teck Resources Limited will post 1.69 EPS for the current year.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $0.0895 per share. This represents a $0.36 annualized dividend and a yield of 0.83%. The ex-dividend date was Friday, December 13th. Teck Resources’s dividend payout ratio (DPR) is presently 53.03%.

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.