Teck Resources Limited (NYSE:TECK) Shares Bought by Klein Pavlis & Peasley Financial Inc.

Klein Pavlis & Peasley Financial Inc. increased its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 4.7% during the fourth quarter, Holdings Channel reports. The fund owned 35,800 shares of the basic materials company’s stock after purchasing an additional 1,600 shares during the quarter. Teck Resources comprises approximately 1.2% of Klein Pavlis & Peasley Financial Inc.’s investment portfolio, making the stock its 28th largest position. Klein Pavlis & Peasley Financial Inc.’s holdings in Teck Resources were worth $1,451,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. U.S. Capital Wealth Advisors LLC increased its stake in shares of Teck Resources by 70.2% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 24,784 shares of the basic materials company’s stock valued at $1,004,000 after purchasing an additional 10,223 shares during the period. Sonora Investment Management Group LLC increased its position in Teck Resources by 22.0% in the 4th quarter. Sonora Investment Management Group LLC now owns 130,268 shares of the basic materials company’s stock valued at $5,280,000 after acquiring an additional 23,510 shares during the period. OLD National Bancorp IN raised its stake in Teck Resources by 7.4% during the 4th quarter. OLD National Bancorp IN now owns 4,955 shares of the basic materials company’s stock valued at $201,000 after acquiring an additional 341 shares in the last quarter. Synergy Asset Management LLC raised its stake in Teck Resources by 77.7% during the 4th quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company’s stock valued at $685,000 after acquiring an additional 7,387 shares in the last quarter. Finally, Swedbank AB acquired a new position in Teck Resources during the 4th quarter worth $103,878,000. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Stock Performance

TECK stock opened at $42.53 on Thursday. The firm has a 50 day simple moving average of $42.64 and a 200 day simple moving average of $46.01. The stock has a market cap of $21.21 billion, a P/E ratio of 64.44 and a beta of 1.02. Teck Resources Limited has a 52 week low of $36.50 and a 52 week high of $55.13. 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 Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders 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 0.84%. The ex-dividend date of this dividend was Friday, December 13th. Teck Resources’s dividend payout ratio (DPR) is presently 53.03%.

Wall Street Analysts Forecast Growth

TECK has been the topic of a number of research analyst reports. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. UBS Group cut Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. cut their price objective on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Raymond James lowered their target price 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, Deutsche Bank Aktiengesellschaft cut shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research report on Friday, October 25th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Teck Resources currently has a consensus rating of “Moderate Buy” and an average target price of $65.38.

About Teck Resources

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.