Teck Resources Limited (NYSE:TECK) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 9,809 shares of the basic materials company’s stock after purchasing an additional 279 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Teck Resources were worth $398,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Swedbank AB acquired a new position in Teck Resources in the fourth quarter worth about $103,878,000. FMR LLC lifted its holdings in Teck Resources by 72.8% during the 3rd 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 last quarter. AMF Tjanstepension AB grew its position in shares of Teck Resources by 32.2% in the 4th quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company’s stock worth $244,252,000 after acquiring an additional 1,467,516 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of Teck Resources during the 3rd quarter valued at approximately $70,549,000. Finally, Principal Financial Group Inc. raised its position in shares of Teck Resources by 21.7% during the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock valued at $388,507,000 after acquiring an additional 1,326,241 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Performance

TECK stock opened at $42.26 on Wednesday. The company has a market capitalization of $20.98 billion, a P/E ratio of 76.83 and a beta of 0.93. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The company has a 50-day simple moving average of $41.75 and a 200 day simple moving average of $44.86. Teck Resources Limited has a fifty-two week low of $36.54 and a fifty-two week high of $55.13.

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 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 analyst estimates of $2.58 billion. Sell-side 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 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. This represents a $0.35 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Friday, March 14th. Teck Resources’s dividend payout ratio (DPR) is presently 61.82%.

Analysts Set New Price Targets

A number of research firms have commented on TECK. Bank of America boosted their target price on shares of Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Raymond James lowered their price objective on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. National Bank Financial cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. decreased their target price on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.22.

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.