Wolverine Asset Management LLC acquired a new stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 50,000 shares of the basic materials company’s stock, valued at approximately $1,308,000.
Other large investors have also recently made changes to their positions in the company. Bartlett & Co. LLC purchased a new stake in shares of Teck Resources in the 4th quarter valued at approximately $118,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of Teck Resources in the 4th quarter valued at approximately $199,000. Private Advisor Group LLC purchased a new stake in shares of Teck Resources in the 3rd quarter valued at approximately $200,000. Cigna Investments Inc. New purchased a new stake in shares of Teck Resources in the 4th quarter valued at approximately $204,000. Finally, Greenleaf Trust purchased a new stake in shares of Teck Resources in the 4th quarter valued at approximately $211,000. 54.28% of the stock is currently owned by institutional investors.
A number of equities research analysts have commented on the stock. Seaport Global Securities initiated coverage on shares of Teck Resources in a research report on Friday, March 2nd. They issued a “hold” rating on the stock. ValuEngine downgraded shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 2nd. Zacks Investment Research downgraded shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Friday. Bank of America downgraded shares of Teck Resources to a “hold” rating in a research report on Tuesday, February 20th. They noted that the move was a valuation call. Finally, Morgan Stanley increased their target price on shares of Teck Resources from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $30.06.
Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Wednesday, February 14th. The basic materials company reported $0.95 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.06). The business had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.28 billion. Teck Resources had a return on equity of 13.69% and a net margin of 20.83%. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.61 EPS. analysts forecast that Teck Resources Ltd will post 3.52 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be paid a dividend of $0.04 per share. The ex-dividend date is Wednesday, March 14th. This represents a $0.16 dividend on an annualized basis and a yield of 0.60%. This is a boost from Teck Resources’s previous quarterly dividend of $0.04. Teck Resources’s dividend payout ratio is currently 4.85%.
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Teck Resources Profile
Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.
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