Teck Resources Limited (NYSE:TECK) Stock Holdings Lowered by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. lessened its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 56.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,521 shares of the basic materials company’s stock after selling 18,979 shares during the period. Itau Unibanco Holding S.A.’s holdings in Teck Resources were worth $759,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TECK. Atria Investments Inc acquired a new position in shares of Teck Resources in the 1st quarter valued at $1,141,000. Cetera Investment Advisers raised its stake in shares of Teck Resources by 486.8% in the 1st quarter. Cetera Investment Advisers now owns 36,972 shares of the basic materials company’s stock valued at $1,693,000 after purchasing an additional 30,671 shares during the period. Cetera Advisors LLC bought a new position in shares of Teck Resources in the 1st quarter valued at about $391,000. EverSource Wealth Advisors LLC increased its position in Teck Resources by 66.3% during the first quarter. EverSource Wealth Advisors LLC now owns 2,322 shares of the basic materials company’s stock worth $114,000 after buying an additional 926 shares during the last quarter. Finally, First Hawaiian Bank grew its stake in Teck Resources by 85.5% in the 2nd quarter. First Hawaiian Bank now owns 10,297 shares of the basic materials company’s stock valued at $493,000 after buying an additional 4,745 shares during the last quarter. 78.06% of the stock is owned by institutional investors.

Teck Resources Stock Performance

Shares of TECK opened at $46.12 on Tuesday. 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 current ratio of 2.92 and a quick ratio of 2.35. The stock has a market cap of $23.63 billion, a price-to-earnings ratio of 69.88 and a beta of 1.03. The company has a 50-day moving average of $48.71 and a two-hundred day moving average of $48.34.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the prior year, the firm posted $0.57 EPS. Teck Resources’s quarterly revenue was down 20.6% compared to the same quarter last year. On average, equities research analysts expect that Teck Resources Limited will post 1.82 earnings per share for the current year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.0895 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.36 annualized dividend and a yield of 0.78%. Teck Resources’s dividend payout ratio is currently 56.06%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TECK shares. StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft downgraded shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a report on Friday, October 25th. UBS Group downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. JPMorgan Chase & Co. reduced their target price on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, Citigroup raised shares of Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. Five equities 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. According to MarketBeat.com, the company has an average 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.