Syon Capital LLC Sells 387 Shares of Teck Resources Limited (NYSE:TECK)

Syon Capital LLC trimmed its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,047 shares of the basic materials company’s stock after selling 387 shares during the quarter. Syon Capital LLC’s holdings in Teck Resources were worth $551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of TECK. Mackenzie Financial Corp boosted its holdings in Teck Resources by 45.7% in the fourth quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock worth $280,491,000 after acquiring an additional 2,080,295 shares in the last quarter. Boston Partners lifted its stake in shares of Teck Resources by 23.3% in the third quarter. Boston Partners now owns 8,449,403 shares of the basic materials company’s stock worth $384,364,000 after buying an additional 1,596,232 shares in the last quarter. PointState Capital LP grew its holdings in shares of Teck Resources by 546.1% during the third quarter. PointState Capital LP now owns 1,755,731 shares of the basic materials company’s stock valued at $75,654,000 after buying an additional 1,483,974 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its position in shares of Teck Resources by 273.5% during the third quarter. Schonfeld Strategic Advisors LLC now owns 1,191,700 shares of the basic materials company’s stock valued at $51,350,000 after acquiring an additional 872,672 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd raised its holdings in Teck Resources by 41.7% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 2,598,866 shares of the basic materials company’s stock worth $110,451,000 after acquiring an additional 765,008 shares during the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Stock Up 1.7 %

TECK stock opened at $50.38 on Friday. The business’s 50-day moving average price is $43.71 and its 200-day moving average price is $40.34. The stock has a market cap of $25.72 billion, a P/E ratio of 22.29, a PEG ratio of 8.34 and a beta of 1.15. The company has a quick ratio of 0.60, a current ratio of 1.10 and a debt-to-equity ratio of 0.21. Teck Resources Limited has a twelve month low of $34.38 and a twelve month high of $50.93.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.01. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.11 billion. Teck Resources had a net margin of 10.59% and a return on equity of 7.70%. On average, equities research analysts forecast that Teck Resources Limited will post 2.87 EPS for the current year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.0925 per share. This represents a $0.37 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Thursday, March 14th. Teck Resources’s dividend payout ratio is currently 16.37%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Morgan Stanley reaffirmed an “overweight” rating and set a $55.00 price objective on shares of Teck Resources in a research report on Thursday, April 11th. UBS Group initiated coverage on Teck Resources in a research note on Tuesday, January 16th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. lifted their price objective on Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Finally, Benchmark increased their target price on Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a report on Monday, April 8th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Teck Resources currently has an average rating of “Moderate Buy” and an average price target of $62.80.

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.