1,727 Shares in Teck Resources Limited (NYSE:TECK) Acquired by Altshuler Shaham Ltd

Altshuler Shaham Ltd acquired a new position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 1,727 shares of the basic materials company’s stock, valued at approximately $70,000.

Several other large investors have also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its position in shares of Teck Resources by 2.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the basic materials company’s stock worth $471,000 after acquiring an additional 243 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in Teck Resources by 2.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 9,809 shares of the basic materials company’s stock valued at $398,000 after purchasing an additional 279 shares during the period. Steward Partners Investment Advisory LLC grew its position in Teck Resources by 6.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,844 shares of the basic materials company’s stock worth $196,000 after purchasing an additional 297 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Teck Resources by 2.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company’s stock valued at $566,000 after purchasing an additional 302 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Teck Resources by 7.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company’s stock valued at $198,000 after buying an additional 327 shares during the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TECK. BMO Capital Markets assumed coverage on Teck Resources in a research report on Wednesday. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. cut their price objective on shares of Teck Resources from $50.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. National Bankshares reiterated a “sector perform” rating on shares of Teck Resources in a research report on Wednesday, April 2nd. Raymond James dropped their price target on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. Finally, Veritas upgraded shares of Teck Resources to a “hold” rating in a report on Friday, April 11th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.11.

Teck Resources Stock Down 1.6 %

TECK stock opened at $32.90 on Friday. 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 capitalization of $16.28 billion, a P/E ratio of 59.82 and a beta of 0.81. Teck Resources Limited has a 52-week low of $28.32 and a 52-week high of $55.13. The company’s 50 day simple moving average is $38.60 and its 200-day simple moving average is $42.95.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.58 billion. As a group, equities research analysts anticipate that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.0879 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.07%. Teck Resources’s dividend payout ratio is 61.82%.

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.