Teck Resources Ltd (NYSE:TECK) Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. decreased its stake in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 38.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 51,490 shares of the basic materials company's stock after selling 32,544 shares during the quarter. Pekin Hardy Strauss Inc.'s holdings in Teck Resources were worth $1,876,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Sequoia Financial Advisors LLC lifted its holdings in shares of Teck Resources by 5.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 10,354 shares of the basic materials company's stock worth $377,000 after buying an additional 545 shares during the period. Golden State Wealth Management LLC lifted its holdings in shares of Teck Resources by 7,560.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company's stock worth $42,000 after buying an additional 1,134 shares during the period. Pictet Asset Management Holding SA lifted its holdings in shares of Teck Resources by 102.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 309,987 shares of the basic materials company's stock worth $12,563,000 after buying an additional 156,980 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Teck Resources by 20.6% in the 4th quarter. Cetera Investment Advisers now owns 57,793 shares of the basic materials company's stock worth $2,342,000 after buying an additional 9,887 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Teck Resources by 22.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 12,141 shares of the basic materials company's stock worth $442,000 after buying an additional 2,240 shares during the period. Hedge funds and other institutional investors own 78.06% of the company's stock.

Teck Resources Price Performance

Shares of NYSE TECK traded down $0.53 during midday trading on Monday, hitting $40.29. The stock had a trading volume of 2,941,930 shares, compared to its average volume of 3,210,815. The company has a market capitalization of $19.58 billion, a PE ratio of 69.47, a P/E/G ratio of 0.62 and a beta of 0.80. The stock has a 50 day simple moving average of $37.51 and a 200-day simple moving average of $38.87. Teck Resources Ltd has a 1 year low of $28.32 and a 1 year high of $54.13. The company has a quick ratio of 2.57, a current ratio of 3.36 and a debt-to-equity ratio of 0.15.

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

Teck Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a dividend of $0.0901 per share. This is an increase from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date was Monday, June 16th. This represents a $0.36 dividend on an annualized basis and a yield of 0.89%. Teck Resources's dividend payout ratio (DPR) is presently 62.07%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TECK. Veritas upgraded Teck Resources to a "hold" rating in a research note on Friday, April 11th. National Bankshares upgraded Teck Resources from a "sector perform" rating to an "outperform" rating in a research note on Thursday, April 24th. UBS Group reaffirmed a "neutral" rating on shares of Teck Resources in a research report on Tuesday, April 15th. BMO Capital Markets started coverage on Teck Resources in a research report on Wednesday, April 16th. They set an "outperform" rating on the stock. Finally, Desjardins started coverage on Teck Resources in a research report on Friday, April 4th. They set a "buy" rating on the stock. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Teck Resources presently has an average rating of "Moderate Buy" and an average 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.