Pekin Hardy Strauss Inc. Sells 1,581 Shares of Teck Resources Limited (NYSE:TECK)

Pekin Hardy Strauss Inc. cut its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,034 shares of the basic materials company’s stock after selling 1,581 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Teck Resources were worth $3,406,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in TECK. Swedbank AB bought a new stake in shares of Teck Resources during the fourth quarter valued at approximately $103,878,000. FMR LLC boosted its holdings in Teck Resources by 72.8% in the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock worth $189,848,000 after acquiring an additional 1,531,563 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in Teck Resources in the third quarter worth $70,549,000. Principal Financial Group Inc. boosted its holdings in Teck Resources by 21.7% in the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock worth $388,507,000 after acquiring an additional 1,326,241 shares in the last quarter. Finally, Holocene Advisors LP boosted its holdings in Teck Resources by 152.7% in the third quarter. Holocene Advisors LP now owns 2,070,377 shares of the basic materials company’s stock worth $108,156,000 after acquiring an additional 1,251,203 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TECK shares. UBS Group downgraded Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Raymond James dropped 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. 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. Finally, National Bank Financial downgraded Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.38.

Teck Resources Stock Down 5.2 %

TECK stock opened at $41.12 on Friday. The stock has a market capitalization of $20.51 billion, a P/E ratio of 74.76 and a beta of 1.02. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. Teck Resources Limited has a 1-year low of $37.30 and a 1-year high of $55.13. The business has a fifty day moving average price of $41.95 and a 200-day moving average price of $45.72.

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

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.0879 per share. This represents a $0.35 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources’s dividend payout ratio (DPR) is presently 63.64%.

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.