Henry James International Management Inc. Cuts Stock Holdings in Teck Resources Limited (NYSE:TECK)

Henry James International Management Inc. reduced its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,398 shares of the basic materials company’s stock after selling 550 shares during the period. Henry James International Management Inc.’s holdings in Teck Resources were worth $1,581,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of TECK. Wealthsource Partners LLC boosted its position in shares of Teck Resources by 4.0% during the 3rd quarter. Wealthsource Partners LLC now owns 7,747 shares of the basic materials company’s stock valued at $334,000 after acquiring an additional 300 shares during the last quarter. Shell Asset Management Co. lifted its position in Teck Resources by 2.9% during the third quarter. Shell Asset Management Co. now owns 13,649 shares of the basic materials company’s stock valued at $590,000 after purchasing an additional 386 shares during the last quarter. Allworth Financial LP grew its stake in shares of Teck Resources by 17.9% in the 3rd quarter. Allworth Financial LP now owns 2,558 shares of the basic materials company’s stock worth $110,000 after buying an additional 388 shares in the last quarter. Cigna Investments Inc. New grew its stake in shares of Teck Resources by 4.6% in the 4th quarter. Cigna Investments Inc. New now owns 8,800 shares of the basic materials company’s stock worth $374,000 after buying an additional 391 shares in the last quarter. Finally, FDx Advisors Inc. increased its holdings in shares of Teck Resources by 1.7% in the 3rd quarter. FDx Advisors Inc. now owns 24,223 shares of the basic materials company’s stock worth $1,044,000 after buying an additional 396 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TECK. UBS Group assumed coverage on shares of Teck Resources in a report on Tuesday, January 16th. They issued a “buy” rating for the company. JPMorgan Chase & Co. lifted their target price on Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Benchmark boosted their target price on Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Morgan Stanley restated an “overweight” rating and issued a $55.00 price target on shares of Teck Resources in a research report on Thursday, April 11th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.86.

Teck Resources Trading Up 1.7 %

Shares of TECK stock traded up $0.84 on Friday, reaching $49.29. 2,689,323 shares of the company’s stock were exchanged, compared to its average volume of 4,653,079. The company’s fifty day simple moving average is $45.01 and its 200 day simple moving average is $40.72. Teck Resources Limited has a 52 week low of $34.38 and a 52 week high of $51.65. The company has a current ratio of 1.49, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $25.22 billion, a PE ratio of 21.81, a P/E/G ratio of 8.92 and a beta of 1.12.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.01. The firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.11 billion. Teck Resources had a net margin of 10.59% and a return on equity of 7.52%. As a group, analysts forecast that Teck Resources Limited will post 2.67 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be paid a $0.0911 dividend. 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 dividend payout ratio is currently 16.37%.

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.