Natixis Advisors LLC Increases Stock Position in Teck Resources Limited (NYSE:TECK)

Natixis Advisors LLC lifted its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 129.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 246,190 shares of the basic materials company’s stock after purchasing an additional 138,952 shares during the quarter. Natixis Advisors LLC’s holdings in Teck Resources were worth $12,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Headlands Technologies LLC purchased a new position in shares of Teck Resources during the second quarter valued at approximately $38,000. Eastern Bank bought a new position in Teck Resources in the third quarter valued at about $39,000. Bruce G. Allen Investments LLC boosted its position in Teck Resources by 77.4% in the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 383 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Teck Resources by 583.1% during the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 898 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of Teck Resources by 69.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 409 shares during the last quarter. 78.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on TECK shares. Benchmark reissued a “buy” rating and set a $55.00 price target on shares of Teck Resources in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft cut Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a report on Friday, October 25th. JPMorgan Chase & Co. dropped their price objective on Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Paradigm Capital upgraded Teck Resources to a “moderate buy” rating in a research note on Friday, July 26th. Five investment 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.29.

Teck Resources Stock Down 1.0 %

NYSE:TECK opened at $46.65 on Thursday. Teck Resources Limited has a twelve month low of $35.25 and a twelve month high of $55.13. The company’s 50 day moving average is $48.87 and its two-hundred day moving average is $48.61. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The company has a market cap of $23.47 billion, a PE ratio of 70.68 and a beta of 1.04.

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 analysts’ consensus estimates of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the prior year, the firm earned $0.57 earnings per share. Teck Resources’s revenue for the quarter was down 20.6% on a year-over-year basis. Analysts anticipate that Teck Resources Limited will post 1.84 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 yield of 0.77%. The ex-dividend date of this dividend is Friday, December 13th. Teck Resources’s dividend payout ratio (DPR) is 56.06%.

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.