Atom Investors LP Has $1.77 Million Stake in Teck Resources Limited (NYSE:TECK)

Atom Investors LP reduced its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 36.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,915 shares of the basic materials company’s stock after selling 19,379 shares during the quarter. Atom Investors LP’s holdings in Teck Resources were worth $1,772,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Headlands Technologies LLC acquired a new stake in Teck Resources in the 2nd quarter valued at approximately $38,000. Eastern Bank bought a new position in Teck Resources during the third quarter worth $39,000. Bruce G. Allen Investments LLC increased its position in Teck Resources by 77.4% during the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 383 shares during the period. Blue Trust Inc. boosted its holdings in Teck Resources by 583.1% in the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 898 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its position in 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 worth $52,000 after purchasing an additional 409 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Stock Down 1.2 %

Shares of NYSE:TECK opened at $46.12 on Tuesday. The company’s fifty day moving average is $48.71 and its 200-day moving average is $48.34. 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 Limited has a 52 week low of $36.50 and a 52 week high of $55.13. The company has a market capitalization of $23.63 billion, a PE ratio of 69.88 and a beta of 1.03.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 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 net margin of 3.32% and a return on equity of 6.37%. The company’s revenue for the quarter was down 20.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 earnings per share. Equities research analysts predict that Teck Resources Limited will post 1.82 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.0895 per share. The ex-dividend date is Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.78%. Teck Resources’s dividend payout ratio is 56.06%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TECK. Scotiabank upped their price objective on shares of Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Tuesday, October 8th. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Citigroup upgraded Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. UBS Group cut Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $65.29.

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.