Empowered Funds LLC Has $1.13 Million Stake in Teck Resources Limited (NYSE:TECK)

Empowered Funds LLC lifted its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 3.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,607 shares of the basic materials company’s stock after acquiring an additional 707 shares during the quarter. Empowered Funds LLC’s holdings in Teck Resources were worth $1,129,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Headlands Technologies LLC acquired a new position in Teck Resources in the second quarter worth $38,000. Eastern Bank acquired a new position in Teck Resources during the 3rd quarter worth about $39,000. Bruce G. Allen Investments LLC increased its position in Teck Resources by 77.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 383 shares in the last quarter. Blue Trust Inc. increased its position in Teck Resources by 583.1% in the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 898 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Teck Resources by 69.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 409 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Trading Down 0.8 %

TECK opened at $46.81 on Friday. The firm’s fifty day moving average is $48.89 and its two-hundred day moving average is $48.60. The firm has a market cap of $23.55 billion, a PE ratio of 70.74 and a beta of 1.04. Teck Resources Limited has a twelve month low of $35.25 and a twelve month high of $55.13. 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 (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.24. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the prior year, the company earned $0.57 EPS. The firm’s quarterly revenue was down 20.6% on a year-over-year basis. Equities research analysts anticipate that Teck Resources Limited will post 1.86 EPS for the current year.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.0895 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, December 13th. Teck Resources’s dividend payout ratio (DPR) is presently 56.06%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Scotiabank increased their price target on shares of Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research note on Tuesday, October 8th. UBS Group cut Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. cut their price target on Teck Resources from $57.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft lowered 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, Citigroup upgraded shares of Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.29.

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.