Teck Resources Limited (NYSE:TECK) Shares Sold by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc trimmed its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 28.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 162,020 shares of the basic materials company’s stock after selling 65,105 shares during the period. Teck Resources makes up about 1.0% of K.J. Harrison & Partners Inc’s holdings, making the stock its 25th biggest holding. K.J. Harrison & Partners Inc’s holdings in Teck Resources were worth $6,621,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new position in Teck Resources during the fourth quarter valued at approximately $25,000. FPC Investment Advisory Inc. purchased a new position in shares of Teck Resources in the 4th quarter valued at $27,000. Global Trust Asset Management LLC acquired a new position in shares of Teck Resources during the 4th quarter valued at $27,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Teck Resources during the 3rd quarter valued at $40,000. Finally, Principal Securities Inc. boosted its position in Teck Resources by 49.9% during the 4th quarter. Principal Securities Inc. now owns 2,858 shares of the basic materials company’s stock worth $116,000 after purchasing an additional 952 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Trading Up 1.9 %

NYSE TECK opened at $41.39 on Thursday. The company has a market capitalization of $20.64 billion, a price-to-earnings ratio of 75.25 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 12 month low of $37.30 and a 12 month high of $55.13. The company’s fifty day moving average price is $41.91 and its two-hundred day moving average price is $45.64.

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

Teck Resources Cuts Dividend

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

Wall Street Analyst Weigh In

TECK has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their price objective on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. UBS Group cut Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. 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. Finally, Raymond James decreased their target price 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. Six 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 stock. According to data from MarketBeat.com, Teck Resources has a consensus rating of “Moderate Buy” and a consensus 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.