Ingalls & Snyder LLC Sells 112,040 Shares of Teck Resources Limited (NYSE:TECK)

Ingalls & Snyder LLC trimmed its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 20.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 426,795 shares of the basic materials company’s stock after selling 112,040 shares during the quarter. Ingalls & Snyder LLC owned 0.09% of Teck Resources worth $17,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of TECK. Stonebridge Financial Group LLC purchased a new stake in shares of Teck Resources in the 4th quarter worth $25,000. Global Trust Asset Management LLC purchased a new stake in shares of Teck Resources in the 4th quarter worth $27,000. Eastern Bank purchased a new stake in shares of Teck Resources in the 3rd quarter worth $39,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Teck Resources in the 3rd quarter worth $40,000. Finally, R Squared Ltd purchased a new stake in shares of Teck Resources in the 4th quarter worth $117,000. 78.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

TECK has been the subject of several analyst reports. UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Raymond James cut their price target on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft lowered Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. cut their price target 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 analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $65.38.

Teck Resources Trading Up 1.6 %

Shares of Teck Resources stock opened at $42.98 on Thursday. The firm has a market cap of $21.44 billion, a price-to-earnings ratio of 65.12 and a beta of 1.02. The business has a 50-day moving average price of $42.30 and a 200-day moving average price of $45.90. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. Teck Resources Limited has a twelve month low of $36.50 and a twelve month high of $55.13.

Teck Resources Cuts Dividend

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