68,222 Shares in Teck Resources Limited (NYSE:TECK) Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. purchased a new position in Teck Resources Limited (NYSE:TECKGet Rating) (TSE:TECK) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 68,222 shares of the basic materials company’s stock, valued at approximately $2,086,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC grew its stake in Teck Resources by 19.1% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 4,611 shares of the basic materials company’s stock valued at $186,000 after acquiring an additional 740 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Teck Resources by 22.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 158,726 shares of the basic materials company’s stock valued at $6,411,000 after acquiring an additional 29,167 shares in the last quarter. FDx Advisors Inc. grew its stake in Teck Resources by 141.4% during the 2nd quarter. FDx Advisors Inc. now owns 14,235 shares of the basic materials company’s stock valued at $435,000 after acquiring an additional 8,337 shares in the last quarter. Cannell & Co. grew its stake in Teck Resources by 0.7% during the 2nd quarter. Cannell & Co. now owns 264,574 shares of the basic materials company’s stock valued at $8,088,000 after acquiring an additional 1,743 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in Teck Resources by 3.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,503,817 shares of the basic materials company’s stock valued at $45,983,000 after acquiring an additional 53,218 shares in the last quarter. Hedge funds and other institutional investors own 55.01% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on TECK. B. Riley lowered their target price on Teck Resources from C$53.00 to C$48.00 in a research note on Monday, October 31st. Jefferies Financial Group initiated coverage on Teck Resources in a research note on Wednesday, September 28th. They issued a “buy” rating for the company. Raymond James lowered their price target on Teck Resources from C$53.00 to C$51.00 in a research note on Friday, October 28th. Canaccord Genuity Group cut Teck Resources from a “buy” rating to a “hold” rating and lowered their price target for the company from C$51.00 to C$46.00 in a research note on Friday, October 28th. Finally, Scotiabank lowered their price target on Teck Resources from C$55.00 to C$53.00 in a research note on Friday, October 28th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Teck Resources presently has an average rating of “Moderate Buy” and an average target price of $51.38.

Teck Resources Stock Up 2.5 %

Shares of TECK stock opened at $34.33 on Thursday. Teck Resources Limited has a 12 month low of $24.72 and a 12 month high of $45.90. The firm has a market cap of $17.32 billion, a PE ratio of 5.23, a price-to-earnings-growth ratio of 0.88 and a beta of 1.07. The stock has a 50 day moving average of $32.50 and a 200-day moving average of $33.64. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.26.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be issued a dividend of $0.0939 per share. The ex-dividend date is Wednesday, December 14th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.09%. Teck Resources’s dividend payout ratio (DPR) is presently 5.78%.

About Teck Resources

(Get Rating)

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, and Energy segments. The company's principal products include copper, zinc, steelmaking coal, and blended bitumen.

Further Reading

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Institutional Ownership by Quarter for Teck Resources (NYSE:TECK)

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