4,799 Shares in Teck Resources Limited (NYSE:TECK) Bought by Camden National Bank

Camden National Bank purchased a new stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,799 shares of the basic materials company’s stock, valued at approximately $251,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Country Club Bank bought a new position in shares of Teck Resources during the 2nd quarter valued at approximately $1,747,000. Atria Investments Inc bought a new stake in shares of Teck Resources during the 1st quarter valued at $1,141,000. Klein Pavlis & Peasley Financial Inc. lifted its stake in shares of Teck Resources by 233.3% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 28,000 shares of the basic materials company’s stock valued at $1,341,000 after buying an additional 19,600 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Teck Resources by 414.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 621,556 shares of the basic materials company’s stock worth $27,118,000 after buying an additional 500,715 shares during the period. Finally, CIBC Asset Management Inc increased its stake in Teck Resources by 2.6% in the 3rd quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company’s stock worth $341,337,000 after buying an additional 165,759 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Performance

Shares of NYSE:TECK opened at $46.81 on Friday. The firm has a fifty day simple moving average of $48.90 and a two-hundred day simple moving average of $48.58. 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 stock has a market capitalization of $23.55 billion, a P/E ratio of 70.92 and a beta of 1.04. Teck Resources Limited has a 52 week low of $35.25 and a 52 week high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter last year, the business posted $0.57 earnings per share. The firm’s revenue was down 20.6% on a year-over-year basis. On average, analysts expect that Teck Resources Limited will post 1.86 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.0895 per share. The ex-dividend date is Friday, December 13th. This represents a $0.36 annualized dividend and a yield of 0.76%. Teck Resources’s payout ratio is presently 56.06%.

Wall Street Analyst Weigh In

TECK has been the topic of several research analyst reports. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. UBS Group downgraded Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Scotiabank increased their price objective on shares of Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a report on Tuesday, October 8th. Citigroup raised shares of Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.29.

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.