Dynasty Wealth Management LLC Has $494,000 Stock Holdings in Teck Resources Limited (NYSE:TECK)

Dynasty Wealth Management LLC decreased its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 46.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,198 shares of the basic materials company’s stock after selling 10,648 shares during the quarter. Dynasty Wealth Management LLC’s holdings in Teck Resources were worth $494,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of Teck Resources by 21.7% during the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock valued at $388,507,000 after acquiring an additional 1,326,241 shares during the period. CIBC Asset Management Inc lifted its position in Teck Resources by 2.0% during the 4th quarter. CIBC Asset Management Inc now owns 6,623,228 shares of the basic materials company’s stock valued at $269,956,000 after purchasing an additional 127,348 shares during the period. AMF Tjanstepension AB lifted its holdings in Teck Resources by 3.9% in the third quarter. AMF Tjanstepension AB now owns 4,552,507 shares of the basic materials company’s stock valued at $238,055,000 after buying an additional 169,476 shares during the period. FMR LLC lifted its holdings in Teck Resources by 72.8% in the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock valued at $189,848,000 after buying an additional 1,531,563 shares during the period. Finally, Regal Partners Ltd lifted its holdings in Teck Resources by 1.4% in the third quarter. Regal Partners Ltd now owns 2,728,980 shares of the basic materials company’s stock valued at $142,562,000 after buying an additional 38,949 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Performance

TECK opened at $40.33 on Friday. The business’s 50-day moving average price is $41.91 and its two-hundred day moving average price is $45.60. Teck Resources Limited has a 1 year low of $37.80 and a 1 year high of $55.13. The company has a market capitalization of $20.11 billion, a price-to-earnings ratio of 73.32 and a beta of 1.02. 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 announced its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.58 billion. Equities analysts expect that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.0879 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.87%. Teck Resources’s dividend payout ratio (DPR) is presently 61.82%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Raymond James cut their target price on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Finally, National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $65.38.

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.