Teck Resources Limited (NYSE:TECK) Shares Acquired by Metis Global Partners LLC

Metis Global Partners LLC boosted its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 29.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,324 shares of the basic materials company’s stock after purchasing an additional 8,825 shares during the period. Metis Global Partners LLC’s holdings in Teck Resources were worth $2,002,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TECK. Headlands Technologies LLC acquired a new position in shares of Teck Resources in the 2nd quarter valued at $38,000. Eastern Bank acquired a new stake in shares of Teck Resources in the third quarter worth approximately $39,000. Bruce G. Allen Investments LLC lifted its position in Teck Resources by 77.4% during the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock valued at $46,000 after buying an additional 383 shares in the last quarter. Blue Trust Inc. lifted its position in Teck Resources by 583.1% during the second quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock valued at $48,000 after buying an additional 898 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of Teck Resources by 69.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 409 shares in the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TECK shares. Benchmark restated a “buy” rating and issued a $55.00 price target on shares of Teck Resources in a research note on Thursday, July 25th. StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft downgraded shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a report on Friday, October 25th. JPMorgan Chase & Co. cut their price target on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, Citigroup upgraded Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.29.

Teck Resources Stock Down 0.9 %

Shares of NYSE TECK opened at $44.99 on Friday. The business’s fifty day moving average price is $48.73 and its 200-day moving average price is $48.66. The stock has a market capitalization of $22.68 billion, a PE ratio of 68.17 and a beta of 1.04. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. Teck Resources Limited has a one year low of $34.56 and a one year high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.24. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The company’s revenue was down 20.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 EPS. On average, equities research analysts anticipate that Teck Resources Limited will post 1.84 EPS for the current year.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.0895 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Friday, December 13th. Teck Resources’s payout ratio is presently 56.06%.

About Teck Resources

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.