MSH Capital Advisors LLC Invests $214,000 in Teck Resources Limited (NYSE:TECK)

MSH Capital Advisors LLC acquired a new stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 5,270 shares of the basic materials company’s stock, valued at approximately $214,000.

Several other institutional investors and hedge funds have also modified their holdings of TECK. Jump Financial LLC lifted its position in shares of Teck Resources by 63.2% in the fourth quarter. Jump Financial LLC now owns 223,529 shares of the basic materials company’s stock worth $9,060,000 after buying an additional 86,566 shares during the last quarter. Causeway Capital Management LLC bought a new position in shares of Teck Resources in the 4th quarter valued at approximately $263,000. Cohen & Steers Inc. lifted its holdings in Teck Resources by 67.0% in the 4th quarter. Cohen & Steers Inc. now owns 155,183 shares of the basic materials company’s stock worth $6,290,000 after purchasing an additional 62,285 shares during the last quarter. BTG Pactual Asset Management US LLC boosted its position in Teck Resources by 20.8% during the fourth quarter. BTG Pactual Asset Management US LLC now owns 11,813 shares of the basic materials company’s stock worth $479,000 after purchasing an additional 2,034 shares during the period. Finally, Rockefeller Capital Management L.P. grew its holdings in Teck Resources by 2.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 13,511 shares of the basic materials company’s stock valued at $548,000 after purchasing an additional 335 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analysts Set New Price Targets

TECK has been the subject of a number of analyst reports. Bank of America boosted their price objective on shares of Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Desjardins assumed coverage on shares of Teck Resources in a report on Friday, April 4th. They set a “buy” rating for the company. Veritas upgraded Teck Resources to a “hold” rating in a research note on Friday, April 11th. National Bankshares reissued a “sector perform” rating on shares of Teck Resources in a research report on Wednesday, April 2nd. Finally, Raymond James lowered their target price on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $64.11.

Teck Resources Price Performance

NYSE:TECK opened at $32.90 on Friday. The company has a market capitalization of $16.28 billion, a price-to-earnings ratio of 59.82 and a beta of 0.81. The company has a 50-day moving average of $38.60 and a 200-day moving average of $42.95. Teck Resources Limited has a 52 week low of $28.32 and a 52 week high of $55.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92.

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

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.0879 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.35 annualized dividend and a dividend yield of 1.07%. Teck Resources’s dividend payout ratio is presently 61.82%.

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.