First Hawaiian Bank Grows Position in Teck Resources Limited (NYSE:TECK)

First Hawaiian Bank grew its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 57.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,918 shares of the basic materials company’s stock after acquiring an additional 7,969 shares during the period. First Hawaiian Bank’s holdings in Teck Resources were worth $888,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TECK. Headlands Technologies LLC acquired a new position in shares of Teck Resources in the 2nd quarter valued at $38,000. Eastern Bank acquired a new position in Teck Resources during the third quarter worth $39,000. Wilmington Savings Fund Society FSB acquired a new position in Teck Resources during the third quarter worth $40,000. Bruce G. Allen Investments LLC raised its position 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 acquiring an additional 383 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its position in 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 worth $52,000 after acquiring an additional 409 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on TECK. Scotiabank upped their price objective on shares of Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, October 8th. Citigroup raised shares of Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. National Bank Financial cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft cut 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, JPMorgan Chase & Co. cut their price objective 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. Six 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.29.

Teck Resources Stock Up 1.4 %

Shares of NYSE:TECK opened at $42.03 on Friday. The company has a market capitalization of $21.07 billion, a PE ratio of 63.68 and a beta of 1.05. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. Teck Resources Limited has a twelve month low of $36.50 and a twelve month high of $55.13. The firm has a 50 day simple moving average of $44.46 and a 200-day simple moving average of $46.89.

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

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 given a $0.0895 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.36 annualized dividend and a yield of 0.85%. Teck Resources’s dividend payout ratio (DPR) is 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.