Teck Resources Limited (NYSE:TECK) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. lowered its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 61.0% in the third quarter, HoldingsChannel.com reports. The firm owned 596 shares of the basic materials company’s stock after selling 933 shares during the quarter. First Horizon Advisors Inc.’s holdings in Teck Resources were worth $31,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TECK. Country Club Bank acquired a new position in shares of Teck Resources during the 2nd quarter worth about $1,747,000. Atria Investments Inc purchased a new stake in Teck Resources during the first quarter worth approximately $1,141,000. Klein Pavlis & Peasley Financial Inc. boosted its holdings in Teck Resources by 233.3% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 28,000 shares of the basic materials company’s stock valued at $1,341,000 after purchasing an additional 19,600 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in Teck Resources by 414.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 621,556 shares of the basic materials company’s stock valued at $27,118,000 after purchasing an additional 500,715 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in Teck Resources by 2.6% during the third quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company’s stock worth $341,337,000 after purchasing an additional 165,759 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Up 0.6 %

TECK opened at $47.10 on Tuesday. Teck Resources Limited has a 52 week low of $35.25 and a 52 week high of $55.13. The business has a 50 day moving average price of $48.90 and a two-hundred day moving average price of $48.56. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The company has a market cap of $23.70 billion, a PE ratio of 71.36 and a beta of 1.04.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. 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 business earned $0.57 earnings per share. The company’s quarterly revenue was down 20.6% compared to the same quarter last year. As a group, research analysts anticipate that Teck Resources Limited will post 1.86 EPS for the current year.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.0895 dividend. 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%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TECK. Citigroup upgraded shares of Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their price target on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Scotiabank lifted their target price on Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, October 8th. Finally, StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $65.29.

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.