DGS Capital Management LLC Cuts Stock Position in Teck Resources Limited (NYSE:TECK)

DGS Capital Management LLC decreased its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 5.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 8,117 shares of the basic materials company’s stock after selling 462 shares during the period. DGS Capital Management LLC’s holdings in Teck Resources were worth $343,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Mackenzie Financial Corp lifted its holdings in shares of Teck Resources by 45.7% during the fourth quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock worth $280,491,000 after purchasing an additional 2,080,295 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Teck Resources by 11.2% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,323,288 shares of the basic materials company’s stock worth $56,107,000 after purchasing an additional 133,019 shares during the period. Ingalls & Snyder LLC lifted its holdings in shares of Teck Resources by 0.5% during the fourth quarter. Ingalls & Snyder LLC now owns 609,985 shares of the basic materials company’s stock worth $25,784,000 after purchasing an additional 3,075 shares during the period. Clarius Group LLC lifted its holdings in shares of Teck Resources by 16.0% during the fourth quarter. Clarius Group LLC now owns 10,286 shares of the basic materials company’s stock worth $435,000 after purchasing an additional 1,416 shares during the period. Finally, Cerity Partners LLC acquired a new stake in shares of Teck Resources during the fourth quarter worth about $297,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Down 1.3 %

Shares of NYSE:TECK opened at $47.14 on Wednesday. The company has a quick ratio of 0.60, a current ratio of 1.10 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average of $42.42 and a two-hundred day moving average of $40.02. The stock has a market cap of $24.06 billion, a P/E ratio of 13.74, a PEG ratio of 6.49 and a beta of 1.15. Teck Resources Limited has a 52-week low of $34.38 and a 52-week high of $50.46.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.01. The company had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.11 billion. Teck Resources had a return on equity of 9.67% and a net margin of 16.21%. On average, research analysts expect that Teck Resources Limited will post 3.55 earnings per share for the current year.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.0925 dividend. This represents a $0.37 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, March 14th. Teck Resources’s dividend payout ratio (DPR) is presently 10.79%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TECK. Morgan Stanley reissued an “overweight” rating and issued a $55.00 price target on shares of Teck Resources in a report on Thursday, April 11th. Benchmark upped their target price on Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, UBS Group initiated coverage on Teck Resources in a research note on Tuesday, January 16th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $65.21.

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.