CenterBook Partners LP Lowers Stock Holdings in Teck Resources Ltd (NYSE:TECK)

CenterBook Partners LP trimmed its position in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 30.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,434 shares of the basic materials company's stock after selling 14,805 shares during the period. CenterBook Partners LP's holdings in Teck Resources were worth $1,254,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Community Bank N.A. acquired a new stake in Teck Resources in the 4th quarter worth about $33,000. Costello Asset Management INC acquired a new position in shares of Teck Resources during the 1st quarter worth approximately $33,000. Banque Cantonale Vaudoise acquired a new position in shares of Teck Resources during the 1st quarter worth approximately $36,000. Golden State Wealth Management LLC boosted its holdings in shares of Teck Resources by 7,560.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company's stock worth $42,000 after purchasing an additional 1,134 shares during the last quarter. Finally, Ameriflex Group Inc. acquired a new position in shares of Teck Resources during the 4th quarter worth approximately $50,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TECK shares. Stifel Nicolaus started coverage on Teck Resources in a report on Wednesday, July 9th. They set a "hold" rating on the stock. Desjardins cut Teck Resources from a "buy" rating to a "hold" rating in a report on Friday. Morgan Stanley cut Teck Resources from an "overweight" rating to an "equal weight" rating and upped their price objective for the company from $42.00 to $44.00 in a report on Tuesday. JPMorgan Chase & Co. upped their price objective on Teck Resources from $41.00 to $46.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Finally, Veritas upgraded Teck Resources to a "hold" rating in a report on Friday, April 11th. Nine research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Teck Resources has an average rating of "Moderate Buy" and a consensus price target of $60.75.

Teck Resources Trading Down 1.3%

NYSE:TECK traded down $0.50 during trading hours on Friday, reaching $37.55. 2,475,706 shares of the stock were exchanged, compared to its average volume of 3,251,427. Teck Resources Ltd has a twelve month low of $28.32 and a twelve month high of $54.13. The business has a 50-day moving average of $38.17 and a two-hundred day moving average of $38.75. The company has a quick ratio of 2.57, a current ratio of 3.36 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $18.14 billion, a price-to-earnings ratio of 64.74, a PEG ratio of 0.58 and a beta of 0.80.

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

Teck Resources Increases Dividend

The company also recently disclosed 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 a positive change from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.36 annualized dividend and a dividend yield of 0.96%. Teck Resources's dividend payout ratio (DPR) is presently 62.07%.

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.