Union Bancaire Privee UBP SA Buys Shares of 5,568 Teck Resources Limited (NYSE:TECK)

Union Bancaire Privee UBP SA purchased a new position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,568 shares of the basic materials company’s stock, valued at approximately $214,000.

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

Teck Resources Trading Down 0.5 %

Teck Resources stock opened at $40.64 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The stock has a market cap of $20.27 billion, a PE ratio of 73.88 and a beta of 1.02. The stock has a 50-day moving average of $41.88 and a two-hundred day moving average of $45.67. Teck Resources Limited has a one year low of $37.30 and a one year high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.58 billion. On average, research analysts anticipate that Teck Resources Limited will post 1.53 EPS 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. Investors of record on Friday, March 14th will be paid a $0.0879 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a yield of 0.87%. Teck Resources’s dividend payout ratio (DPR) is 61.82%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TECK. UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. reduced their price target on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. National Bank Financial lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Finally, Raymond James lowered their target price on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. 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. According to MarketBeat, Teck Resources presently has a consensus rating of “Moderate Buy” and an average price target of $65.38.

Teck Resources 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.