Stifel Financial Corp Decreases Stake in Teck Resources Limited (NYSE:TECK)

Stifel Financial Corp decreased its stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 21.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,786 shares of the basic materials company's stock after selling 44,539 shares during the quarter. Stifel Financial Corp's holdings in Teck Resources were worth $6,517,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new position in Teck Resources during the fourth quarter valued at $25,000. Global Trust Asset Management LLC bought a new position in shares of Teck Resources during the 4th quarter valued at about $27,000. FPC Investment Advisory Inc. bought a new position in shares of Teck Resources during the 4th quarter valued at about $27,000. Community Bank N.A. purchased a new position in shares of Teck Resources during the fourth quarter valued at about $33,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Teck Resources in the third quarter worth about $40,000. Institutional investors own 78.06% of the company's stock.

Teck Resources Price Performance

TECK traded up $1.31 during trading on Friday, reaching $35.51. The company's stock had a trading volume of 3,019,497 shares, compared to its average volume of 3,134,443. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $36.88 and a two-hundred day simple moving average of $41.67. The company has a market cap of $17.50 billion, a price-to-earnings ratio of 64.56 and a beta of 0.79. Teck Resources Limited has a 1 year low of $28.32 and a 1 year high of $55.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.18. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The firm had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $2.19 billion. During the same period last year, the business earned $0.75 earnings per share. Teck Resources's revenue was up 41.4% compared to the same quarter last year. As a group, analysts anticipate that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.0901 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.01%. This is an increase from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Monday, June 16th. Teck Resources's payout ratio is 58.62%.

Analyst Upgrades and Downgrades

TECK has been the subject of a number of recent research reports. National Bank Financial raised shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. Veritas raised shares of Teck Resources to a "hold" rating in a research note on Friday, April 11th. Raymond James decreased their target price on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 22nd. BMO Capital Markets began coverage on Teck Resources in a research report on Wednesday, April 16th. They issued an "outperform" rating for the company. Finally, Bank of America boosted their price objective on Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Six investment 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 MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.11.

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.