Signaturefd LLC Sells 1,074 Shares of Teck Resources Limited (NYSE:TECK)

Signaturefd LLC decreased its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,694 shares of the basic materials company’s stock after selling 1,074 shares during the period. Signaturefd LLC’s holdings in Teck Resources were worth $677,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB bought a new position in shares of Teck Resources in the fourth quarter valued at approximately $103,878,000. FMR LLC raised its stake in shares of Teck Resources by 72.8% in the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock valued at $189,848,000 after acquiring an additional 1,531,563 shares during the last quarter. AMF Tjanstepension AB raised its stake in shares of Teck Resources by 32.2% in the fourth quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company’s stock valued at $244,252,000 after acquiring an additional 1,467,516 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Teck Resources in the third quarter valued at approximately $70,549,000. Finally, Principal Financial Group Inc. raised its stake in shares of Teck Resources by 21.7% in the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock valued at $388,507,000 after acquiring an additional 1,326,241 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

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

Teck Resources Price Performance

TECK opened at $42.69 on Thursday. The company has a fifty day moving average price of $41.78 and a two-hundred day moving average price of $44.84. 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 Limited has a 52 week low of $36.54 and a 52 week high of $55.13. The firm has a market capitalization of $21.20 billion, a PE ratio of 77.61 and a beta of 0.93.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS 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 during the quarter, compared to analyst estimates of $2.58 billion. As a group, analysts anticipate that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.0879 dividend. This represents a $0.35 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources’s dividend payout ratio (DPR) is 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.