Janney Montgomery Scott LLC Sells 2,588 Shares of Teck Resources Limited (NYSE:TECK)

Janney Montgomery Scott LLC lowered its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,098 shares of the basic materials company’s stock after selling 2,588 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Teck Resources were worth $1,949,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. FMR LLC increased its holdings in Teck Resources by 72.8% during the 3rd quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock worth $189,848,000 after purchasing an additional 1,531,563 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in shares of Teck Resources in the third quarter valued at about $70,549,000. Principal Financial Group Inc. lifted its stake in Teck Resources by 21.7% in the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock worth $388,507,000 after acquiring an additional 1,326,241 shares during the period. Holocene Advisors LP grew its holdings in Teck Resources by 152.7% during the 3rd quarter. Holocene Advisors LP now owns 2,070,377 shares of the basic materials company’s stock worth $108,156,000 after acquiring an additional 1,251,203 shares in the last quarter. Finally, Temasek Holdings Private Ltd grew its holdings in Teck Resources by 77.3% during the 3rd quarter. Temasek Holdings Private Ltd now owns 954,788 shares of the basic materials company’s stock worth $49,878,000 after acquiring an additional 416,201 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

NYSE TECK opened at $40.80 on Monday. The stock’s fifty day moving average price is $42.94 and its 200 day moving average price is $46.11. Teck Resources Limited has a 1 year low of $36.50 and a 1 year high of $55.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The company has a market cap of $20.35 billion, a price-to-earnings ratio of 61.82 and a beta of 1.05.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a dividend of $0.0895 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date was Friday, December 13th. Teck Resources’s dividend payout ratio (DPR) is 53.03%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TECK. Deutsche Bank Aktiengesellschaft cut shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research report on Friday, October 25th. UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. National Bank Financial downgraded Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. dropped their price objective on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Finally, Scotiabank boosted their target price on shares of Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a report on Tuesday, October 8th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.38.

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.