Sonora Investment Management Group LLC Has $5.28 Million Stake in Teck Resources Limited (NYSE:TECK)

Sonora Investment Management Group LLC lifted its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 22.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 130,268 shares of the basic materials company’s stock after acquiring an additional 23,510 shares during the period. Sonora Investment Management Group LLC’s holdings in Teck Resources were worth $5,280,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TECK. Daymark Wealth Partners LLC raised its holdings in shares of Teck Resources by 2.8% in the 3rd quarter. Daymark Wealth Partners LLC now owns 8,774 shares of the basic materials company’s stock worth $458,000 after acquiring an additional 242 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Teck Resources by 7.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company’s stock worth $198,000 after purchasing an additional 327 shares during the last quarter. OLD National Bancorp IN boosted its position in shares of Teck Resources by 7.4% during the fourth quarter. OLD National Bancorp IN now owns 4,955 shares of the basic materials company’s stock valued at $201,000 after buying an additional 341 shares during the last quarter. Bruce G. Allen Investments LLC grew its holdings in Teck Resources by 77.4% during the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after buying an additional 383 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in Teck Resources by 69.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after buying an additional 409 shares during the last quarter. 78.06% of the stock is owned by institutional investors.

Teck Resources Trading Up 1.4 %

Shares of TECK opened at $41.71 on Friday. Teck Resources Limited has a 1-year low of $36.50 and a 1-year high of $55.13. The company has a market capitalization of $20.80 billion, a P/E ratio of 63.20 and a beta of 1.05. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The firm’s 50 day simple moving average is $43.06 and its 200 day simple moving average is $46.22.

Teck Resources Cuts Dividend

The business 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. This represents a $0.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date was Friday, December 13th. Teck Resources’s dividend payout ratio (DPR) is currently 53.03%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their price objective 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. StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Scotiabank boosted their price objective on Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research note on Tuesday, October 8th. Finally, Raymond James cut their target price 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. Six research 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. According to MarketBeat, Teck Resources has a consensus rating of “Moderate Buy” and an average price target of $65.38.

Teck Resources Company 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.