Teck Resources Limited (NYSE:TECK) Shares Bought by Bourgeon Capital Management LLC

Bourgeon Capital Management LLC grew its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 7.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,000 shares of the basic materials company’s stock after buying an additional 500 shares during the period. Bourgeon Capital Management LLC’s holdings in Teck Resources were worth $284,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Atomi Financial Group Inc. purchased a new position in shares of Teck Resources during the fourth quarter worth about $1,350,000. Park Avenue Securities LLC increased its holdings in shares of Teck Resources by 5.7% in the 4th quarter. Park Avenue Securities LLC now owns 8,960 shares of the basic materials company’s stock valued at $363,000 after acquiring an additional 486 shares during the period. Leibman Financial Services Inc. raised its holdings in shares of Teck Resources by 1.3% in the fourth quarter. Leibman Financial Services Inc. now owns 98,025 shares of the basic materials company’s stock valued at $3,973,000 after buying an additional 1,275 shares during the last quarter. FNY Investment Advisers LLC raised its stake in Teck Resources by 709.5% during the 4th quarter. FNY Investment Advisers LLC now owns 17,000 shares of the basic materials company’s stock valued at $689,000 after acquiring an additional 14,900 shares during the last quarter. Finally, First Hawaiian Bank raised its stake in shares of Teck Resources by 57.1% during the fourth quarter. First Hawaiian Bank now owns 21,918 shares of the basic materials company’s stock worth $888,000 after purchasing an additional 7,969 shares during the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TECK has been the topic of a number of analyst reports. UBS Group lowered shares of Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. National Bank Financial cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft downgraded shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research report on Friday, October 25th. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. reduced their target price on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Teck Resources currently has a consensus rating of “Moderate Buy” and an average price target of $64.71.

Teck Resources Price Performance

Shares of NYSE:TECK opened at $43.76 on Wednesday. The stock has a market cap of $21.82 billion, a PE ratio of 66.30 and a beta of 1.05. The business’s fifty day moving average price is $43.60 and its two-hundred day moving average price is $46.52. Teck Resources Limited has a one year low of $36.50 and a one year high of $55.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.24. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.09 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The company’s quarterly revenue was down 20.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 earnings per share. On average, analysts forecast that Teck Resources Limited will post 1.69 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a $0.0895 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend was Friday, December 13th. Teck Resources’s payout ratio is 53.03%.

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.