Pacifica Partners Inc. Sells 1,145 Shares of Teck Resources Limited (NYSE:TECK)

Pacifica Partners Inc. reduced its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,998 shares of the basic materials company’s stock after selling 1,145 shares during the quarter. Pacifica Partners Inc.’s holdings in Teck Resources were worth $1,465,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Teck Resources by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 16,721,130 shares of the basic materials company’s stock worth $765,493,000 after buying an additional 290,034 shares during the last quarter. FIL Ltd increased its holdings in Teck Resources by 98.8% in the 4th quarter. FIL Ltd now owns 11,937,233 shares of the basic materials company’s stock worth $504,588,000 after purchasing an additional 5,933,226 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Teck Resources by 2.4% in the 1st quarter. Janus Henderson Group PLC now owns 8,604,605 shares of the basic materials company’s stock worth $394,178,000 after purchasing an additional 203,607 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Teck Resources by 1.4% in the 2nd quarter. CIBC Asset Management Inc now owns 6,330,121 shares of the basic materials company’s stock worth $303,161,000 after purchasing an additional 90,089 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Teck Resources by 7.3% in the 2nd quarter. Principal Financial Group Inc. now owns 6,103,740 shares of the basic materials company’s stock worth $292,441,000 after purchasing an additional 416,070 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TECK shares. UBS Group raised Teck Resources from a “neutral” rating to a “buy” rating and upped their target price for the stock from $76.00 to $78.00 in a report on Wednesday, September 4th. Eight Capital cut Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 11th. CIBC increased their price target on Teck Resources from $70.00 to $80.00 and gave the company an “outperformer” rating in a research note on Friday, July 12th. Paradigm Capital raised Teck Resources to a “moderate buy” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. decreased their price target on Teck Resources from $56.00 to $54.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Teck Resources Trading Down 1.3 %

NYSE TECK opened at $51.13 on Tuesday. The business has a 50 day simple moving average of $47.83 and a 200 day simple moving average of $48.37. Teck Resources Limited has a one year low of $34.38 and a one year high of $55.13. The stock has a market capitalization of $26.12 billion, a P/E ratio of 22.62 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 0.77.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Wednesday, July 24th. The basic materials company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.47 by $0.32. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. The business had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter last year, the firm posted $0.91 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. Research analysts expect that Teck Resources Limited will post 2.02 earnings per share for the current year.

Teck Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.625 dividend. The ex-dividend date was Friday, September 13th. This represents a $2.50 annualized dividend and a yield of 4.89%. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio is presently 16.37%.

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.