Sequoia Financial Advisors LLC Has $391,000 Position in Teck Resources Limited (NYSE:TECK)

Sequoia Financial Advisors LLC lowered its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 9.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,259 shares of the basic materials company’s stock after selling 936 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Teck Resources were worth $391,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TECK. Money Concepts Capital Corp acquired a new stake in shares of Teck Resources during the 4th quarter worth about $29,000. Baystate Wealth Management LLC acquired a new stake in shares of Teck Resources during the 3rd quarter worth about $31,000. JFS Wealth Advisors LLC lifted its stake in shares of Teck Resources by 249.0% during the 3rd quarter. JFS Wealth Advisors LLC now owns 841 shares of the basic materials company’s stock worth $36,000 after buying an additional 600 shares during the last quarter. Achmea Investment Management B.V. acquired a new stake in shares of Teck Resources during the 1st quarter worth about $37,000. Finally, Belpointe Asset Management LLC lifted its stake in shares of Teck Resources by 263.4% during the 1st quarter. Belpointe Asset Management LLC now owns 1,381 shares of the basic materials company’s stock worth $50,000 after buying an additional 1,001 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Price Performance

TECK stock opened at $47.20 on Thursday. The company has a quick ratio of 0.60, a current ratio of 1.10 and a debt-to-equity ratio of 0.21. Teck Resources Limited has a 12 month low of $34.38 and a 12 month high of $50.46. The firm has a market cap of $24.10 billion, a P/E ratio of 13.76, a P/E/G ratio of 6.49 and a beta of 1.15. The company’s 50-day moving average price is $42.60 and its two-hundred day moving average price is $40.07.

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, beating the consensus estimate of $1.01 by $0.01. Teck Resources had a net margin of 16.21% and a return on equity of 9.67%. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.11 billion. On average, analysts anticipate that Teck Resources Limited will post 3.51 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.0925 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.37 dividend on an annualized basis and a dividend yield of 0.78%. Teck Resources’s payout ratio is currently 10.79%.

Analysts Set New Price Targets

TECK has been the subject of a number of research reports. Benchmark raised their target price 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 price target on shares of Teck Resources in a research report on Thursday, April 11th. JPMorgan Chase & Co. raised their price target on shares of Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, UBS Group began coverage on shares of Teck Resources in a research report on Tuesday, January 16th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Teck Resources currently has an average rating of “Moderate Buy” and an average target price of $65.04.

About Teck Resources

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.