Guardian Partners Inc. Makes New Investment in Teck Resources Limited (NYSE:TECK)

Guardian Partners Inc. acquired a new position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 30,023 shares of the basic materials company’s stock, valued at approximately $1,245,000.

Other institutional investors have also added to or reduced their stakes in the company. Synergy Asset Management LLC raised its holdings in Teck Resources by 77.7% in the 4th quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company’s stock worth $685,000 after purchasing an additional 7,387 shares in the last quarter. Forest Avenue Capital Management LP increased its stake in shares of Teck Resources by 3.7% in the 3rd quarter. Forest Avenue Capital Management LP now owns 720,920 shares of the basic materials company’s stock worth $37,661,000 after acquiring an additional 25,430 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Teck Resources in the 3rd quarter worth about $1,937,000. Intech Investment Management LLC increased its stake in shares of Teck Resources by 20.9% in the 3rd quarter. Intech Investment Management LLC now owns 98,145 shares of the basic materials company’s stock worth $5,132,000 after acquiring an additional 16,981 shares in the last quarter. Finally, Paloma Partners Management Co bought a new position in shares of Teck Resources in the 3rd quarter worth about $20,896,000. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Stock Performance

Shares of NYSE TECK opened at $41.53 on Friday. The firm’s 50-day moving average price is $41.79 and its 200-day moving average price is $44.78. 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 company has a market cap of $20.90 billion, a PE ratio of 75.50 and a beta of 0.93. Teck Resources Limited has a 52-week low of $36.54 and a 52-week high of $55.13.

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

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.0879 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources’s payout ratio is 61.82%.

Wall Street Analyst Weigh In

TECK has been the subject of several research reports. JPMorgan Chase & Co. decreased their price target on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. National Bank Financial lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Raymond James decreased their price target on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. Finally, Bank of America increased their price objective on shares of Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.22.

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.