Sanctuary Advisors LLC Buys 20,124 Shares of Teck Resources Limited (NYSE:TECK)

Sanctuary Advisors LLC increased its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 187.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,840 shares of the basic materials company’s stock after acquiring an additional 20,124 shares during the period. Sanctuary Advisors LLC’s holdings in Teck Resources were worth $1,611,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Eastern Bank bought a new position in shares of Teck Resources during the 3rd quarter valued at about $39,000. Headlands Technologies LLC bought a new position in Teck Resources during the second quarter valued at approximately $38,000. Bruce G. Allen Investments LLC raised its stake in shares of Teck Resources by 77.4% during the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 383 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Teck Resources by 69.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 409 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Teck Resources by 583.1% in the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 898 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

Shares of NYSE:TECK opened at $39.99 on Friday. The company has a market capitalization of $20.49 billion, a PE ratio of 60.59 and a beta of 1.03. The business has a fifty day moving average price of $46.88 and a 200-day moving average price of $47.67. Teck Resources Limited has a 1-year low of $36.50 and a 1-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.

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 the consensus estimate of $0.36 by $0.24. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. 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 previous year, the company earned $0.57 earnings per share. The business’s revenue for the quarter was down 20.6% compared to the same quarter last year. As a group, equities analysts expect that Teck Resources Limited will post 1.81 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.0895 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.36 annualized dividend and a yield of 0.90%. Teck Resources’s dividend payout ratio is 56.06%.

Wall Street Analysts Forecast Growth

TECK has been the topic of a number of research analyst reports. Scotiabank boosted their price target on 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 Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft lowered Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research note on Friday, October 25th. JPMorgan Chase & Co. decreased their price objective on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.29.

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.