Teck Resources Limited (NYSE:TECK) Holdings Trimmed by Mirabella Financial Services LLP

Mirabella Financial Services LLP cut its stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 61.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,864 shares of the basic materials company's stock after selling 26,400 shares during the period. Mirabella Financial Services LLP's holdings in Teck Resources were worth $683,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new position in shares of Teck Resources in the 4th quarter valued at about $25,000. FPC Investment Advisory Inc. acquired a new stake in Teck Resources in the fourth quarter valued at approximately $27,000. Global Trust Asset Management LLC purchased a new position in Teck Resources in the fourth quarter worth approximately $27,000. Wilmington Savings Fund Society FSB acquired a new position in Teck Resources during the 3rd quarter worth approximately $40,000. Finally, Community Bank N.A. purchased a new stake in shares of Teck Resources in the 4th quarter valued at approximately $33,000. 78.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on TECK. Bank of America boosted their target price on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. BMO Capital Markets initiated coverage on Teck Resources in a report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Desjardins started coverage on Teck Resources in a research note on Friday, April 4th. They set a "buy" rating for the company. UBS Group reaffirmed a "neutral" rating on shares of Teck Resources in a report on Tuesday, April 15th. Finally, National Bank Financial raised shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a report on Thursday. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Teck Resources has a consensus rating of "Moderate Buy" and a consensus target price of $64.11.

Teck Resources Stock Performance

TECK stock traded down $0.59 during trading on Friday, reaching $35.65. 3,668,027 shares of the company's stock were exchanged, compared to its average volume of 3,148,388. Teck Resources Limited has a 1-year low of $28.32 and a 1-year high of $55.13. The firm has a market cap of $17.57 billion, a PE ratio of 64.82 and a beta of 0.81. The company's fifty day moving average price is $37.56 and its 200-day moving average price is $42.25. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.18. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $2.19 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. On average, research analysts expect that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $0.0901 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Monday, June 16th. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio (DPR) is currently 61.82%.

About Teck Resources

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.