Teck Resources Limited (NYSE:TECK) Shares Bought by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC boosted its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 20.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,849 shares of the basic materials company’s stock after acquiring an additional 1,684 shares during the period. Oliver Luxxe Assets LLC’s holdings in Teck Resources were worth $399,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TECK. Headlands Technologies LLC acquired a new position in Teck Resources in the 2nd quarter valued at $38,000. Eastern Bank acquired a new position in Teck Resources during the third quarter valued at approximately $39,000. Wilmington Savings Fund Society FSB purchased a new position in Teck Resources in the third quarter valued at about $40,000. Bruce G. Allen Investments LLC lifted its position in Teck Resources by 77.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 383 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Teck Resources by 69.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 409 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on TECK. Citigroup raised Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. 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. UBS Group downgraded Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. JPMorgan Chase & Co. cut their target price on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Scotiabank boosted their price objective on shares of Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Tuesday, October 8th. Six analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.29.

Teck Resources Stock Up 1.0 %

Shares of NYSE:TECK opened at $41.39 on Tuesday. 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 stock has a market cap of $20.75 billion, a price-to-earnings ratio of 62.71 and a beta of 1.05. The company has a 50 day moving average of $44.81 and a 200-day moving average of $47.01. Teck Resources Limited has a one year low of $36.50 and a one year high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.36 by $0.24. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the previous year, the company posted $0.57 EPS. The business’s revenue for the quarter was down 20.6% compared to the same quarter last year. On average, sell-side analysts forecast that Teck Resources Limited will post 1.81 earnings per share for the current year.

Teck Resources Cuts Dividend

The business also recently announced 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. The ex-dividend date was Friday, December 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.86%. Teck Resources’s payout ratio is currently 56.06%.

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.