Teck Resources Ltd $TECK Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC grew its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 23.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 109,434 shares of the basic materials company’s stock after acquiring an additional 20,915 shares during the quarter. HighTower Advisors LLC’s holdings in Teck Resources were worth $5,241,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. TD Private Client Wealth LLC boosted its holdings in shares of Teck Resources by 4.7% during the fourth quarter. TD Private Client Wealth LLC now owns 29,543 shares of the basic materials company’s stock valued at $1,415,000 after acquiring an additional 1,327 shares during the period. Mission Wealth Management LP acquired a new position in shares of Teck Resources during the fourth quarter valued at $207,000. AlphaCore Capital LLC acquired a new position in shares of Teck Resources during the fourth quarter valued at $351,000. New York Life Investment Management LLC acquired a new position in shares of Teck Resources during the fourth quarter valued at $11,014,000. Finally, Cardinal Point Capital Management ULC acquired a new position in shares of Teck Resources during the fourth quarter valued at $379,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Price Performance

Shares of Teck Resources stock opened at $66.12 on Friday. The company has a current ratio of 2.83, a quick ratio of 2.16 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $57.45 and its two-hundred day moving average price is $52.59. Teck Resources Ltd has a 52 week low of $30.98 and a 52 week high of $67.67. The stock has a market cap of $31.87 billion, a PE ratio of 24.22, a price-to-earnings-growth ratio of 4.78 and a beta of 0.86.

Teck Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, June 15th. Teck Resources’s payout ratio is presently 13.55%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TECK shares. Wall Street Zen raised shares of Teck Resources to a “buy” rating in a report on Saturday, May 16th. JPMorgan Chase & Co. upped their price objective on shares of Teck Resources from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Citigroup raised shares of Teck Resources from a “neutral” rating to a “buy” rating in a report on Monday, February 2nd. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a report on Tuesday, April 14th. Finally, Weiss Ratings raised shares of Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $59.17.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.