Aviso Financial Inc. Buys 387 Shares of Teck Resources Limited (NYSE:TECK)

Aviso Financial Inc. lifted its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,171 shares of the basic materials company’s stock after acquiring an additional 387 shares during the period. Aviso Financial Inc.’s holdings in Teck Resources were worth $615,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TECK. Commonwealth Equity Services LLC boosted its position in shares of Teck Resources by 2.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company’s stock worth $566,000 after purchasing an additional 302 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Teck Resources by 2.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 9,809 shares of the basic materials company’s stock worth $398,000 after buying an additional 279 shares during the period. DSC Meridian Capital LP boosted its holdings in Teck Resources by 60.6% in the fourth quarter. DSC Meridian Capital LP now owns 167,746 shares of the basic materials company’s stock worth $6,799,000 after acquiring an additional 63,300 shares in the last quarter. Barings LLC grew its stake in Teck Resources by 22.3% in the fourth quarter. Barings LLC now owns 149,300 shares of the basic materials company’s stock valued at $6,051,000 after acquiring an additional 27,211 shares during the period. Finally, Amundi increased its holdings in shares of Teck Resources by 5.6% during the fourth quarter. Amundi now owns 14,949,233 shares of the basic materials company’s stock valued at $619,765,000 after acquiring an additional 791,725 shares in the last quarter. 78.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Raymond James reduced their price objective on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. JPMorgan Chase & Co. decreased their price objective on 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 Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Finally, Bank of America increased their price target on Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Six investment 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 stock. According to MarketBeat, Teck Resources has an average rating of “Moderate Buy” and an average price target of $65.22.

Teck Resources Price Performance

TECK opened at $42.16 on Friday. The firm has a market cap of $20.94 billion, a P/E ratio of 76.66 and a beta of 0.93. 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 fifty-two week low of $36.54 and a fifty-two week high of $55.13. The firm has a 50-day moving average of $41.68 and a 200 day moving average of $45.02.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $2.58 billion. On average, research analysts expect that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.0879 per share. The ex-dividend date is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.83%. Teck Resources’s dividend payout ratio is presently 61.82%.

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.