Global Trust Asset Management LLC Takes Position in Teck Resources Limited (NYSE:TECK)

Global Trust Asset Management LLC bought a new position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 659 shares of the basic materials company’s stock, valued at approximately $27,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Eastern Bank bought a new stake in shares of Teck Resources in the 3rd quarter worth approximately $39,000. Wilmington Savings Fund Society FSB purchased a new position in Teck Resources in the 3rd quarter worth $40,000. Bruce G. Allen Investments LLC lifted its stake in Teck Resources by 77.4% in the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 383 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in Teck Resources by 69.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after buying an additional 409 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Teck Resources by 178.2% during the third quarter. Blue Trust Inc. now owns 2,927 shares of the basic materials company’s stock valued at $140,000 after buying an additional 1,875 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

TECK has been the subject of a number of recent research reports. Scotiabank boosted their target price on Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lowered Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research note on Friday, October 25th. UBS Group downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Raymond James dropped their price target 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. Finally, StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Teck Resources presently has an average rating of “Moderate Buy” and a consensus target price of $65.38.

Teck Resources Price Performance

TECK stock opened at $42.90 on Thursday. 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 1 year low of $36.50 and a 1 year high of $55.13. The firm has a 50-day moving average of $43.56 and a 200 day moving average of $46.50. The company has a market cap of $21.40 billion, a P/E ratio of 65.00 and a beta of 1.05.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the prior year, the company earned $0.57 EPS. The business’s revenue was down 20.6% compared to the same quarter last year. On average, sell-side analysts forecast that Teck Resources Limited will post 1.69 EPS for the current year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a $0.0895 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.83%. Teck Resources’s dividend payout ratio (DPR) is 53.03%.

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.