Teck Resources Limited (NYSE:TECK) Shares Purchased by Louisbourg Investments Inc.

Louisbourg Investments Inc. raised its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 131,746 shares of the basic materials company’s stock after acquiring an additional 3,278 shares during the period. Teck Resources makes up approximately 1.3% of Louisbourg Investments Inc.’s portfolio, making the stock its 27th biggest position. Louisbourg Investments Inc.’s holdings in Teck Resources were worth $5,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Stonebridge Financial Group LLC acquired a new position in Teck Resources during the fourth quarter worth approximately $25,000. Global Trust Asset Management LLC purchased a new stake in shares of Teck Resources during the 4th quarter valued at $27,000. Eastern Bank acquired a new stake in shares of Teck Resources during the 3rd quarter worth $39,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Teck Resources during the 3rd quarter worth $40,000. Finally, R Squared Ltd purchased a new position in shares of Teck Resources in the 4th quarter worth $117,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Performance

Teck Resources stock opened at $42.28 on Wednesday. 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 fifty day moving average price is $42.36 and its 200 day moving average price is $45.92. The company has a market capitalization of $21.09 billion, a price-to-earnings ratio of 64.06 and a beta of 1.02. Teck Resources Limited has a 12-month low of $36.50 and a 12-month high of $55.13.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a $0.0895 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend was Friday, December 13th. Teck Resources’s dividend payout ratio (DPR) is 53.03%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TECK. UBS Group downgraded Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. decreased their target price on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lowered shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research report on Friday, October 25th. Finally, Raymond James cut their target price on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.