R Squared Ltd Takes Position in Teck Resources Limited (NYSE:TECK)

R Squared Ltd acquired a new position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,890 shares of the basic materials company’s stock, valued at approximately $117,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Global Trust Asset Management LLC bought a new stake in shares of Teck Resources in the 4th quarter valued at $27,000. Eastern Bank acquired a new stake in Teck Resources during the 3rd quarter worth about $39,000. Wilmington Savings Fund Society FSB bought a new position in shares of Teck Resources in the 3rd quarter worth about $40,000. Bruce G. Allen Investments LLC lifted its stake in shares of Teck Resources by 77.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 383 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of Teck Resources by 69.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 409 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Trading Up 1.4 %

NYSE TECK opened at $41.71 on Friday. The business’s fifty day moving average is $43.06 and its 200-day moving average is $46.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The stock has a market capitalization of $20.80 billion, a price-to-earnings ratio of 63.20 and a beta of 1.05. Teck Resources Limited has a one year low of $36.50 and a one year 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 paid a $0.0895 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Friday, December 13th. Teck Resources’s payout ratio is 53.03%.

Analysts Set New Price Targets

TECK has been the subject of a number of research analyst reports. National Bank Financial downgraded Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. dropped their target price on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lowered shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a report on Friday, October 25th. Finally, UBS Group downgraded Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.