Fox Run Management L.L.C. Acquires New Stake in Teck Resources Limited (NYSE:TECK)

Fox Run Management L.L.C. bought a new position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 6,186 shares of the basic materials company’s stock, valued at approximately $251,000.

Other institutional investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new position in shares of Teck Resources during the fourth quarter worth about $25,000. FPC Investment Advisory Inc. bought a new stake in Teck Resources during the fourth quarter valued at approximately $27,000. Global Trust Asset Management LLC purchased a new position in Teck Resources in the 4th quarter worth approximately $27,000. Wilmington Savings Fund Society FSB bought a new position in shares of Teck Resources in the 3rd quarter worth $40,000. Finally, Jones Financial Companies Lllp raised its position in shares of Teck Resources by 342.8% during the 4th quarter. Jones Financial Companies Lllp now owns 1,758 shares of the basic materials company’s stock valued at $71,000 after buying an additional 1,361 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Price Performance

Shares of Teck Resources stock opened at $39.35 on Friday. The business has a 50 day moving average of $41.67 and a 200 day moving average of $44.69. Teck Resources Limited has a 52 week low of $36.54 and a 52 week high of $55.13. The company has a market cap of $19.80 billion, a PE ratio of 71.54 and a beta of 0.93. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.58 billion. As a group, equities research analysts forecast that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Cuts Dividend

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

Wall Street Analysts Forecast Growth

TECK has been the topic of a number of research analyst reports. Raymond James reduced their target price on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. Bank of America lifted their target price on shares of Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. JPMorgan Chase & Co. cut their price target on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Finally, National Bank Financial downgraded Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Teck Resources has an average rating of “Moderate Buy” and an average price target of $65.22.

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.