Teck Resources Limited (NYSE:TECK) Stock Holdings Reduced by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC cut its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,343 shares of the basic materials company’s stock after selling 508 shares during the period. Integrated Wealth Concepts LLC’s holdings in Teck Resources were worth $1,010,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in TECK. TD Asset Management Inc boosted its holdings in Teck Resources by 49.0% in the second quarter. TD Asset Management Inc now owns 4,950,816 shares of the basic materials company’s stock worth $237,202,000 after purchasing an additional 1,629,149 shares in the last quarter. FMR LLC lifted its position in shares of Teck Resources by 72.8% in the third 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. Principal Financial Group Inc. boosted its stake 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 worth $388,507,000 after acquiring an additional 1,326,241 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of Teck Resources by 48.4% during the 2nd quarter. National Bank of Canada FI now owns 3,934,663 shares of the basic materials company’s stock valued at $188,111,000 after acquiring an additional 1,283,876 shares during the last quarter. Finally, Holocene Advisors LP raised its stake in shares of Teck Resources by 152.7% in the 3rd quarter. Holocene Advisors LP now owns 2,070,377 shares of the basic materials company’s stock valued at $108,156,000 after acquiring an additional 1,251,203 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TECK. Deutsche Bank Aktiengesellschaft lowered shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research report on Friday, October 25th. Scotiabank lifted their target price on shares of Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a report on Tuesday, October 8th. Citigroup upgraded shares of Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Finally, StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.29.

Teck Resources Stock Down 1.0 %

TECK stock opened at $44.96 on Monday. Teck Resources Limited has a twelve month low of $36.50 and a twelve month high of $55.13. 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 market cap of $23.03 billion, a PE ratio of 68.12 and a beta of 1.03. The business’s 50-day simple moving average is $48.21 and its 200 day simple moving average is $48.12.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.24. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.09 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. Teck Resources’s revenue for the quarter was down 20.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 EPS. On average, research analysts anticipate that Teck Resources Limited will post 1.82 earnings per share for the current year.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.0895 dividend. This represents a $0.36 annualized dividend and a yield of 0.80%. The ex-dividend date is Friday, December 13th. Teck Resources’s dividend payout ratio (DPR) is presently 56.06%.

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.