O Brien Greene & Co. Inc Trims Stock Position in Teck Resources Limited (NYSE:TECK)

O Brien Greene & Co. Inc cut its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 11.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,611 shares of the basic materials company’s stock after selling 2,200 shares during the quarter. O Brien Greene & Co. Inc’s holdings in Teck Resources were worth $920,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of TECK. Daymark Wealth Partners LLC boosted its holdings in Teck Resources by 2.8% during the third quarter. Daymark Wealth Partners LLC now owns 8,774 shares of the basic materials company’s stock worth $458,000 after buying an additional 242 shares in the last quarter. Cigna Investments Inc. New boosted its stake in shares of Teck Resources by 3.8% during the 2nd quarter. Cigna Investments Inc. New now owns 8,762 shares of the basic materials company’s stock worth $420,000 after acquiring an additional 317 shares in the last quarter. Candriam S.C.A. grew its position in shares of Teck Resources by 4.0% during the 2nd quarter. Candriam S.C.A. now owns 8,897 shares of the basic materials company’s stock valued at $426,000 after acquiring an additional 343 shares during the period. Evergreen Capital Management LLC increased its stake in shares of Teck Resources by 7.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 5,064 shares of the basic materials company’s stock valued at $243,000 after purchasing an additional 365 shares in the last quarter. Finally, Bruce G. Allen Investments LLC increased its position in shares of Teck Resources by 77.4% in the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock valued at $46,000 after buying an additional 383 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Down 1.0 %

NYSE:TECK opened at $44.96 on Monday. Teck Resources Limited has a 52 week low of $36.50 and a 52 week high of $55.13. The stock’s fifty day moving average is $48.21 and its two-hundred day moving average is $48.12. The stock has a market capitalization of $23.03 billion, a price-to-earnings ratio of 68.12 and a beta of 1.03. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.24. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. Teck Resources’s revenue for the quarter was down 20.6% on a year-over-year basis. During the same period last year, the business posted $0.57 EPS. Research analysts anticipate that Teck Resources Limited will post 1.82 EPS for the current 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 issued a dividend of $0.0895 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.80%. Teck Resources’s dividend payout ratio (DPR) is presently 56.06%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TECK shares. StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft downgraded Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research report on Friday, October 25th. Scotiabank increased their target price on shares of Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Tuesday, October 8th. Finally, Citigroup raised shares of Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $65.29.

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.