Pekin Hardy Strauss Inc. Sells 1,991 Shares of Teck Resources Limited (NYSE:TECK)

Pekin Hardy Strauss Inc. lowered its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,853 shares of the basic materials company’s stock after selling 1,991 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Teck Resources were worth $3,925,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ninety One SA PTY Ltd grew its position in shares of Teck Resources by 45.1% during the 4th quarter. Ninety One SA PTY Ltd now owns 147,093 shares of the basic materials company’s stock worth $6,236,000 after buying an additional 45,750 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Teck Resources by 45.7% in the 4th quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock valued at $280,491,000 after buying an additional 2,080,295 shares during the last quarter. Douglas Lane & Associates LLC grew its position in shares of Teck Resources by 54.3% in the 4th quarter. Douglas Lane & Associates LLC now owns 663,366 shares of the basic materials company’s stock valued at $28,040,000 after acquiring an additional 233,361 shares during the period. Pantechnicon Advisors LLP raised its stake in Teck Resources by 40.1% in the 3rd quarter. Pantechnicon Advisors LLP now owns 465,000 shares of the basic materials company’s stock valued at $20,037,000 after acquiring an additional 133,000 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its stake in Teck Resources by 4.6% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 120,841 shares of the basic materials company’s stock valued at $5,191,000 after buying an additional 5,304 shares during the last quarter. 78.06% of the stock is owned by institutional investors.

Teck Resources Stock Performance

TECK stock traded down $1.88 during mid-day trading on Tuesday, hitting $49.19. The company had a trading volume of 3,225,012 shares, compared to its average volume of 4,083,858. The stock’s fifty day moving average price is $44.19 and its two-hundred day moving average price is $40.48. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.49. Teck Resources Limited has a 12 month low of $34.38 and a 12 month high of $51.65. The firm has a market cap of $25.11 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 8.48 and a beta of 1.15.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.01. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.11 billion. Teck Resources had a net margin of 10.59% and a return on equity of 7.52%. On average, analysts forecast that Teck Resources Limited will post 2.87 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be paid a dividend of $0.0911 per share. The ex-dividend date is Monday, June 17th. This represents a $0.36 annualized dividend and a yield of 0.74%. Teck Resources’s dividend payout ratio is currently 16.37%.

Analyst Ratings Changes

TECK has been the subject of several recent analyst reports. UBS Group started coverage on Teck Resources in a research report on Tuesday, January 16th. They set a “buy” rating for the company. Benchmark raised their price objective on Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a report on Monday, April 8th. JPMorgan Chase & Co. increased their target price on Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $55.00 price objective on shares of Teck Resources in a research note on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.86.

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.