Anchor Capital Advisors LLC Sells 90,544 Shares of Teck Resources Limited (NYSE:TECK)

Anchor Capital Advisors LLC lowered its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 22.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 320,377 shares of the basic materials company’s stock after selling 90,544 shares during the quarter. Anchor Capital Advisors LLC owned approximately 0.06% of Teck Resources worth $12,985,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in TECK. AMF Tjanstepension AB boosted its stake in Teck Resources by 3.9% in the 3rd quarter. AMF Tjanstepension AB now owns 4,552,507 shares of the basic materials company’s stock worth $238,055,000 after purchasing an additional 169,476 shares during the period. International Assets Investment Management LLC bought a new position in Teck Resources in the 3rd quarter worth about $10,818,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Teck Resources in the 3rd quarter worth about $756,000. Nisa Investment Advisors LLC boosted its stake in Teck Resources by 1,291.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,200 shares of the basic materials company’s stock worth $167,000 after purchasing an additional 2,970 shares during the period. Finally, US Bancorp DE boosted its stake in Teck Resources by 27.9% in the 3rd quarter. US Bancorp DE now owns 21,548 shares of the basic materials company’s stock worth $1,126,000 after purchasing an additional 4,704 shares during the period. Institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Performance

Shares of NYSE TECK opened at $40.26 on Friday. The stock has a market cap of $20.08 billion, a price-to-earnings ratio of 73.19 and a beta of 1.02. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. Teck Resources Limited has a 1-year low of $37.30 and a 1-year high of $55.13. The stock’s 50-day moving average is $41.91 and its 200 day moving average is $45.64.

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

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.0879 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a yield of 0.87%. Teck Resources’s dividend payout ratio (DPR) is currently 61.82%.

Analysts Set New Price Targets

Several brokerages have commented on TECK. UBS Group downgraded Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. dropped their price target on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Raymond James dropped their price target on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. Finally, National Bank Financial downgraded Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.38.

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.