Scotia Capital Inc. Has $14.34 Million Stake in Teck Resources Limited (NYSE:TECK)

Scotia Capital Inc. reduced its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 354,132 shares of the basic materials company’s stock after selling 4,583 shares during the quarter. Scotia Capital Inc.’s holdings in Teck Resources were worth $14,339,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of TECK. Synergy Asset Management LLC raised its position in shares of Teck Resources by 77.7% in the 4th quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company’s stock worth $685,000 after acquiring an additional 7,387 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Teck Resources in the third quarter worth approximately $1,937,000. FNY Investment Advisers LLC lifted its stake in Teck Resources by 709.5% in the fourth quarter. FNY Investment Advisers LLC now owns 17,000 shares of the basic materials company’s stock valued at $689,000 after buying an additional 14,900 shares during the period. Toronto Dominion Bank boosted its holdings in shares of Teck Resources by 40.1% during the 3rd quarter. Toronto Dominion Bank now owns 903,132 shares of the basic materials company’s stock worth $47,180,000 after buying an additional 258,455 shares in the last quarter. Finally, Douglas Lane & Associates LLC grew its position in shares of Teck Resources by 10.6% during the 4th quarter. Douglas Lane & Associates LLC now owns 950,612 shares of the basic materials company’s stock worth $38,528,000 after buying an additional 91,370 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Bank of America boosted their target price on shares of Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Desjardins initiated coverage on shares of Teck Resources in a research report on Friday, April 4th. They set a “buy” rating on the stock. JPMorgan Chase & Co. decreased their target price on Teck Resources from $50.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday. Raymond James cut their price target on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of Teck Resources in a research report on Wednesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $64.11.

Teck Resources Trading Down 5.5 %

Shares of Teck Resources stock opened at $31.55 on Friday. The stock has a fifty day moving average price of $39.52 and a 200-day moving average price of $43.53. 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 firm has a market cap of $15.61 billion, a PE ratio of 57.36 and a beta of 0.81. Teck Resources Limited has a 1 year low of $28.32 and a 1 year high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced 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 business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. Equities research analysts anticipate that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.0879 per share. This represents a $0.35 annualized dividend and a yield of 1.11%. The ex-dividend date was Friday, March 14th. Teck Resources’s dividend payout ratio (DPR) is 61.82%.

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.