Pekin Hardy Strauss Inc. Sells 1,991 Shares of Teck Resources Limited (NYSE:TECK)

Pekin Hardy Strauss Inc. trimmed its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.1% during the 4th quarter, HoldingsChannel reports. The firm owned 92,853 shares of the basic materials company’s stock after selling 1,991 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Teck Resources were worth $3,925,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its holdings in shares of Teck Resources by 7.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 22,013 shares of the basic materials company’s stock worth $949,000 after buying an additional 1,433 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Teck Resources by 22.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 12,913 shares of the basic materials company’s stock valued at $556,000 after purchasing an additional 2,400 shares during the period. Maryland State Retirement & Pension System boosted its holdings in shares of Teck Resources by 3.0% in the 3rd quarter. Maryland State Retirement & Pension System now owns 58,743 shares of the basic materials company’s stock worth $2,529,000 after purchasing an additional 1,734 shares during the period. Raymond James & Associates lifted its holdings in shares of Teck Resources by 5.0% in the 3rd quarter. Raymond James & Associates now owns 321,893 shares of the basic materials company’s stock worth $13,870,000 after acquiring an additional 15,218 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of Teck Resources by 30.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 7,022 shares of the basic materials company’s stock valued at $303,000 after buying an additional 1,643 shares during the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Stock Performance

TECK traded down $1.88 on Tuesday, reaching $49.19. The stock had a trading volume of 3,225,012 shares, compared to its average volume of 4,083,858. The business’s 50-day moving average price is $44.19 and its two-hundred day moving average price is $40.48. The company has a current ratio of 1.49, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. Teck Resources Limited has a 12-month low of $34.38 and a 12-month high of $51.65. The company has a market cap of $25.11 billion, a P/E ratio of 22.60, a price-to-earnings-growth ratio of 8.48 and a beta of 1.15.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, February 22nd. The basic materials company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. Teck Resources had a net margin of 10.59% and a return on equity of 7.52%. The business had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.11 billion. Sell-side analysts forecast that Teck Resources Limited will post 2.87 earnings per share for the current year.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be given a dividend of $0.0911 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.36 dividend on an annualized basis and a yield of 0.74%. Teck Resources’s payout ratio is presently 16.37%.

Analysts Set New Price Targets

Several research firms recently commented on TECK. Benchmark raised their price target on shares of Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $55.00 target price on shares of Teck Resources in a research report on Thursday, April 11th. UBS Group initiated coverage on Teck Resources in a research note on Tuesday, January 16th. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.86.

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.