Steward Partners Investment Advisory LLC Purchases 297 Shares of Teck Resources Limited (NYSE:TECK)

Steward Partners Investment Advisory LLC lifted its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,844 shares of the basic materials company’s stock after purchasing an additional 297 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Teck Resources were worth $196,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Stonebridge Financial Group LLC bought a new position in shares of Teck Resources during the fourth quarter worth approximately $25,000. FPC Investment Advisory Inc. bought a new position in Teck Resources during the 4th quarter worth $27,000. Global Trust Asset Management LLC bought a new position in Teck Resources during the 4th quarter worth $27,000. Wilmington Savings Fund Society FSB bought a new position in Teck Resources during the 3rd quarter worth $40,000. Finally, Jones Financial Companies Lllp increased its stake in Teck Resources by 342.8% during the 4th quarter. Jones Financial Companies Lllp now owns 1,758 shares of the basic materials company’s stock worth $71,000 after acquiring an additional 1,361 shares during the period. Institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

TECK has been the topic of a number of recent research reports. Raymond James lowered their price objective on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. Bank of America raised their price objective on Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. lowered their price objective on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Finally, National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.22.

Teck Resources Stock Performance

Shares of Teck Resources stock opened at $42.16 on Friday. The company has a market cap of $20.94 billion, a PE ratio of 76.66 and a beta of 0.93. Teck Resources Limited has a 52 week low of $36.54 and a 52 week high of $55.13. The business has a 50 day moving average price of $41.70 and a 200-day moving average price of $44.94. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. Equities analysts anticipate that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.0879 dividend. This represents a $0.35 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources’s dividend payout ratio (DPR) is presently 61.82%.

About Teck Resources

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.