Braun Stacey Associates Inc. Has $15.33 Million Stock Position in Teck Resources Ltd (NYSE:TECK)

Braun Stacey Associates Inc. lowered its stake in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 2.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 420,819 shares of the basic materials company's stock after selling 8,545 shares during the quarter. Braun Stacey Associates Inc. owned approximately 0.09% of Teck Resources worth $15,330,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its holdings in Teck Resources by 2.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the basic materials company's stock worth $471,000 after acquiring an additional 243 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Teck Resources by 2.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 9,809 shares of the basic materials company's stock worth $398,000 after acquiring an additional 279 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in Teck Resources by 6.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,844 shares of the basic materials company's stock valued at $196,000 after purchasing an additional 297 shares during the period. Commonwealth Equity Services LLC lifted its position in Teck Resources by 2.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company's stock valued at $566,000 after purchasing an additional 302 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its position in Teck Resources by 2.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 13,511 shares of the basic materials company's stock valued at $548,000 after purchasing an additional 335 shares during the period. Institutional investors own 78.06% of the company's stock.

Teck Resources Trading Down 0.8%

Shares of NYSE:TECK traded down $0.34 during mid-day trading on Friday, reaching $41.38. The stock had a trading volume of 1,868,426 shares, compared to its average volume of 3,211,889. The firm has a market cap of $20.11 billion, a PE ratio of 71.34, a price-to-earnings-growth ratio of 0.62 and a beta of 0.80. The firm has a 50 day simple moving average of $37.51 and a two-hundred day simple moving average of $38.87. The company has a current ratio of 3.36, a quick ratio of 2.57 and a debt-to-equity ratio of 0.15. Teck Resources Ltd has a twelve month low of $28.32 and a twelve month high of $54.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.18. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $2.19 billion. Teck Resources had a net margin of 3.48% and a return on equity of 4.53%. Teck Resources's revenue for the quarter was up 41.4% on a year-over-year basis. During the same period last year, the company posted $0.75 EPS. On average, research analysts predict that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a dividend of $0.0901 per share. This is an increase from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.36 annualized dividend and a yield of 0.87%. The ex-dividend date was Monday, June 16th. Teck Resources's dividend payout ratio (DPR) is 62.07%.

Wall Street Analyst Weigh In

TECK has been the topic of a number of research reports. Veritas upgraded shares of Teck Resources to a "hold" rating in a research report on Friday, April 11th. JPMorgan Chase & Co. cut their target price on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Desjardins initiated coverage on shares of Teck Resources in a research report on Friday, April 4th. They set a "buy" rating on the stock. National Bank Financial upgraded shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Finally, UBS Group restated a "neutral" rating on shares of Teck Resources in a research report on Tuesday, April 15th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Teck Resources has an average rating of "Moderate Buy" and a consensus target price of $64.63.

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.