Amova Asset Management Americas Inc. Reduces Stock Holdings in Teck Resources Ltd $TECK

Amova Asset Management Americas Inc. lowered its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 53.3% during the first quarter, Holdings Channel reports. The firm owned 23,316 shares of the basic materials company’s stock after selling 26,577 shares during the period. Amova Asset Management Americas Inc.’s holdings in Teck Resources were worth $1,206,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Brown Brothers Harriman & Co. purchased a new position in shares of Teck Resources in the 4th quarter valued at $25,000. Blue Trust Inc. lifted its position in Teck Resources by 411.8% in the first quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 453 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Teck Resources by 117.4% in the first quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 303 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in Teck Resources in the fourth quarter valued at $103,000. Finally, Banque Cantonale Vaudoise grew its holdings in shares of Teck Resources by 5,102.0% during the third quarter. Banque Cantonale Vaudoise now owns 2,549 shares of the basic materials company’s stock worth $112,000 after purchasing an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

Shares of NYSE TECK opened at $56.80 on Wednesday. The stock has a fifty day moving average price of $61.78 and a 200 day moving average price of $57.32. Teck Resources Ltd has a 1-year low of $30.98 and a 1-year high of $71.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16. The company has a market cap of $27.42 billion, a PE ratio of 20.80, a P/E/G ratio of 1.61 and a beta of 0.92.

Teck Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Monday, June 15th. Teck Resources’s dividend payout ratio (DPR) is 13.19%.

Wall Street Analyst Weigh In

TECK has been the subject of several research reports. JPMorgan Chase & Co. reduced their target price on Teck Resources from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. Veritas downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. TD Securities reiterated a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft increased their price objective on Teck Resources from $64.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Finally, Wall Street Zen raised shares of Teck Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday. Five equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $63.00.

Teck Resources Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.