U.S. Capital Wealth Advisors LLC Raises Position in Teck Resources Limited (NYSE:TECK)

U.S. Capital Wealth Advisors LLC raised its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 70.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,784 shares of the basic materials company’s stock after purchasing an additional 10,223 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Teck Resources were worth $1,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TECK. Swedbank AB purchased a new stake in Teck Resources during the fourth quarter valued at approximately $103,878,000. FMR LLC raised its holdings in shares of 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 buying an additional 1,531,563 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in shares of Teck Resources in the third quarter worth approximately $70,549,000. Principal Financial Group Inc. raised its holdings in shares of 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 buying an additional 1,326,241 shares during the period. Finally, Holocene Advisors LP raised its holdings in shares of 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 buying an additional 1,251,203 shares during the period. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Stock Up 4.6 %

Shares of NYSE TECK opened at $41.92 on Wednesday. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $20.90 billion, a PE ratio of 63.51 and a beta of 1.02. The stock’s fifty day simple moving average is $42.71 and its two-hundred day simple moving average is $46.03. Teck Resources Limited has a 12-month low of $36.50 and a 12-month high of $55.13.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a dividend of $0.0895 per share. The ex-dividend date was Friday, December 13th. This represents a $0.36 annualized dividend and a yield of 0.85%. Teck Resources’s dividend payout ratio (DPR) is presently 53.03%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TECK shares. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. reduced their price target on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Raymond James reduced their price target on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. UBS Group cut Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Finally, Scotiabank increased their price objective on Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, October 8th. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.