33,315 Shares in Teck Resources Limited (NYSE:TECK) Bought by Atomi Financial Group Inc.

Atomi Financial Group Inc. purchased a new stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 33,315 shares of the basic materials company’s stock, valued at approximately $1,350,000.

Other large investors have also added to or reduced their stakes in the company. Eastern Bank acquired a new stake in shares of Teck Resources during the third quarter worth about $39,000. Wilmington Savings Fund Society FSB purchased a new position in Teck Resources during the 3rd quarter worth approximately $40,000. Bruce G. Allen Investments LLC lifted its stake in Teck Resources by 77.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 383 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Teck Resources by 69.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 409 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Teck Resources by 178.2% in the third quarter. Blue Trust Inc. now owns 2,927 shares of the basic materials company’s stock worth $140,000 after acquiring an additional 1,875 shares during the period. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on TECK. Deutsche Bank Aktiengesellschaft downgraded shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 target price for the company. in a research report on Friday, October 25th. National Bank Financial cut Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. dropped their target price on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Citigroup raised shares of Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. Finally, Scotiabank upped their price target on Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a report on Tuesday, October 8th. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Teck Resources has an average rating of “Moderate Buy” and a consensus price target of $64.71.

Teck Resources Trading Up 1.4 %

Shares of TECK stock opened at $43.76 on Wednesday. Teck Resources Limited has a fifty-two week low of $36.50 and a fifty-two week high of $55.13. The firm has a market capitalization of $21.82 billion, a P/E ratio of 66.30 and a beta of 1.05. The stock’s fifty day moving average is $43.60 and its two-hundred day moving average is $46.52. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.24. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.09 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. Teck Resources’s quarterly revenue was down 20.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 earnings per share. Research analysts expect that Teck Resources Limited will post 1.69 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a dividend of $0.0895 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend was Friday, December 13th. Teck Resources’s dividend payout ratio (DPR) is currently 53.03%.

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.