FNY Investment Advisers LLC Buys 14,900 Shares of Teck Resources Limited (NYSE:TECK)

FNY Investment Advisers LLC boosted its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 709.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,000 shares of the basic materials company’s stock after acquiring an additional 14,900 shares during the period. FNY Investment Advisers LLC’s holdings in Teck Resources were worth $689,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Daymark Wealth Partners LLC grew its position in shares of Teck Resources by 2.8% in the third quarter. Daymark Wealth Partners LLC now owns 8,774 shares of the basic materials company’s stock valued at $458,000 after purchasing an additional 242 shares in the last quarter. Evergreen Capital Management LLC lifted its stake in Teck Resources by 7.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 5,064 shares of the basic materials company’s stock worth $243,000 after purchasing an additional 365 shares in the last quarter. Bruce G. Allen Investments LLC boosted its holdings in Teck Resources by 77.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 383 shares during the period. Massmutual Trust Co. FSB ADV increased its holdings in shares of Teck Resources by 69.7% in 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 during the period. Finally, Fulton Bank N.A. raised its position in shares of Teck Resources by 6.5% in the fourth quarter. Fulton Bank N.A. now owns 8,218 shares of the basic materials company’s stock worth $333,000 after buying an additional 499 shares in the last quarter. 78.06% of the stock is owned by institutional investors.

Teck Resources Price Performance

TECK stock opened at $42.18 on Tuesday. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $21.14 billion, a price-to-earnings ratio of 63.91 and a beta of 1.05. Teck Resources Limited has a 12-month low of $36.50 and a 12-month high of $55.13. The firm’s 50-day moving average price is $44.37 and its two-hundred day moving average price is $46.83.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter last year, the business posted $0.57 EPS. The business’s revenue was down 20.6% on a year-over-year basis. As a group, equities analysts predict that Teck Resources Limited will post 1.81 earnings per share for the current year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a $0.0895 dividend. This represents a $0.36 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Friday, December 13th. Teck Resources’s dividend payout ratio (DPR) is currently 53.03%.

Analysts Set New Price Targets

TECK has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. National Bank Financial cut Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. UBS Group cut Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Deutsche Bank Aktiengesellschaft cut shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research report on Friday, October 25th. Finally, Citigroup raised shares of Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $65.29.

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.