Affinity Wealth Management LLC Purchases 2,241 Shares of Teck Resources Limited (NYSE:TECK)

Affinity Wealth Management LLC raised its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 107,022 shares of the basic materials company’s stock after purchasing an additional 2,241 shares during the period. Affinity Wealth Management LLC’s holdings in Teck Resources were worth $4,338,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Sei Investments Co. increased its holdings in Teck Resources by 25.0% during the second quarter. Sei Investments Co. now owns 168,226 shares of the basic materials company’s stock valued at $8,058,000 after buying an additional 33,664 shares during the period. Evergreen Capital Management LLC increased its holdings in shares of Teck Resources by 7.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 5,064 shares of the basic materials company’s stock valued at $243,000 after acquiring an additional 365 shares during the period. Insigneo Advisory Services LLC bought a new position in shares of Teck Resources in the 2nd quarter worth $240,000. AQR Capital Management LLC purchased a new stake in shares of Teck Resources during the 2nd quarter worth $213,000. Finally, APG Asset Management N.V. boosted its position in Teck Resources by 890.0% during the second quarter. APG Asset Management N.V. now owns 88,112 shares of the basic materials company’s stock valued at $3,939,000 after purchasing an additional 79,212 shares in the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Trading Up 0.1 %

TECK stock opened at $43.39 on Friday. Teck Resources Limited has a 52-week low of $36.50 and a 52-week high of $55.13. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The firm has a market cap of $21.64 billion, a P/E ratio of 65.74 and a beta of 1.05. The company’s 50-day simple moving average is $43.49 and its 200-day simple moving average is $46.43.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating 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 return on equity of 6.37% and a net margin of 3.32%. The business’s revenue was down 20.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 EPS. As a group, equities analysts forecast that Teck Resources Limited will post 1.69 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a $0.0895 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Friday, December 13th. Teck Resources’s dividend payout ratio is presently 53.03%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Scotiabank upped their price target on Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. reduced their target price 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. Citigroup raised Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. National Bank Financial lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Finally, UBS Group downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.38.

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.