44 Wealth Management LLC Sells 1,907 Shares of Teck Resources Limited (NYSE:TECK)

44 Wealth Management LLC reduced its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 19.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,665 shares of the basic materials company’s stock after selling 1,907 shares during the period. 44 Wealth Management LLC’s holdings in Teck Resources were worth $311,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TECK. Stonebridge Financial Group LLC bought a new position in Teck Resources during the 4th quarter valued at about $25,000. Global Trust Asset Management LLC bought a new position in shares of Teck Resources in the fourth quarter worth about $27,000. Eastern Bank bought a new position in shares of Teck Resources in the third quarter worth about $39,000. Wilmington Savings Fund Society FSB bought a new position in shares of Teck Resources in the third quarter worth about $40,000. Finally, Principal Securities Inc. raised its stake in shares of Teck Resources by 49.9% in the fourth quarter. Principal Securities Inc. now owns 2,858 shares of the basic materials company’s stock worth $116,000 after acquiring an additional 952 shares during the last quarter. 78.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. 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 target price on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. National Bank Financial downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $65.38.

Teck Resources Stock Down 5.2 %

Shares of NYSE TECK opened at $41.12 on Friday. The stock has a market cap of $20.51 billion, a P/E ratio of 74.76 and a beta of 1.02. The firm has a 50 day moving average price of $41.95 and a 200 day moving average price of $45.72. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. Teck Resources Limited has a 52-week low of $37.30 and a 52-week high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. Analysts expect that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.0879 per share. This represents a $0.35 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources’s dividend payout ratio is currently 63.64%.

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.