Metis Global Partners LLC Acquires 3,632 Shares of Teck Resources Limited (NYSE:TECK)

Metis Global Partners LLC boosted its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 9.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 41,956 shares of the basic materials company’s stock after acquiring an additional 3,632 shares during the quarter. Metis Global Partners LLC’s holdings in Teck Resources were worth $1,701,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of Teck Resources by 8.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,720,766 shares of the basic materials company’s stock valued at $69,743,000 after purchasing an additional 134,500 shares during the period. RWC Asset Management LLP bought a new position in shares of Teck Resources in the fourth quarter valued at approximately $12,963,000. Union Bancaire Privee UBP SA bought a new position in shares of Teck Resources in the fourth quarter valued at approximately $214,000. FPC Investment Advisory Inc. bought a new position in shares of Teck Resources in the fourth quarter valued at approximately $27,000. Finally, Allianz Asset Management GmbH raised its position in shares of Teck Resources by 31.1% in the fourth quarter. Allianz Asset Management GmbH now owns 1,513,304 shares of the basic materials company’s stock valued at $61,324,000 after purchasing an additional 358,927 shares during the period. Institutional investors own 78.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. National Bank Financial lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. UBS Group downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. lowered their price objective on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Finally, Raymond James lowered their price objective on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.38.

Teck Resources Stock Down 2.0 %

TECK opened at $39.52 on Tuesday. Teck Resources Limited has a fifty-two week low of $38.69 and a fifty-two week high of $55.13. 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 firm’s fifty day moving average price is $41.90 and its two-hundred day moving average price is $45.55. The company has a market capitalization of $19.63 billion, a P/E ratio of 71.86 and a beta of 1.02.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.58 billion. On average, analysts anticipate that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.0879 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.89%. Teck Resources’s payout ratio is presently 61.82%.

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.