K.J. Harrison & Partners Inc Has $3.77 Million Stock Holdings in Teck Resources Ltd $TECK

K.J. Harrison & Partners Inc trimmed its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 18.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 87,020 shares of the basic materials company’s stock after selling 20,000 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Teck Resources were worth $3,773,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. MAI Capital Management raised its stake in shares of Teck Resources by 70.9% in the third quarter. MAI Capital Management now owns 8,996 shares of the basic materials company’s stock worth $395,000 after acquiring an additional 3,733 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Teck Resources by 82.8% during the third quarter. EverSource Wealth Advisors LLC now owns 2,217 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 1,004 shares during the last quarter. Fiera Capital Corp increased its holdings in shares of Teck Resources by 14.5% in the third quarter. Fiera Capital Corp now owns 6,600 shares of the basic materials company’s stock valued at $289,000 after purchasing an additional 837 shares in the last quarter. Syon Capital LLC raised its position in Teck Resources by 11.4% in the 3rd quarter. Syon Capital LLC now owns 14,742 shares of the basic materials company’s stock worth $647,000 after purchasing an additional 1,503 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in Teck Resources by 1.0% in the 3rd quarter. GSA Capital Partners LLP now owns 40,941 shares of the basic materials company’s stock worth $1,797,000 after purchasing an additional 409 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Up 2.6%

NYSE TECK opened at $61.35 on Thursday. Teck Resources Ltd has a 12 month low of $28.32 and a 12 month high of $62.41. The stock has a 50-day simple moving average of $53.05 and a 200 day simple moving average of $44.69. The company has a current ratio of 2.54, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $29.53 billion, a PE ratio of 30.37, a P/E/G ratio of 0.56 and a beta of 0.80.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Thursday, February 19th. The basic materials company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.39. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.28 billion. Teck Resources had a return on equity of 5.90% and a net margin of 12.98%.The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.45 EPS. Research analysts forecast that Teck Resources Ltd will post 1.53 EPS for the current year.

Teck Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a $0.125 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.50 annualized dividend and a yield of 0.8%. Teck Resources’s dividend payout ratio (DPR) is 17.82%.

Analyst Ratings Changes

TECK has been the topic of a number of recent research reports. National Bank Financial lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. Citigroup raised Teck Resources from a “neutral” rating to a “buy” rating in a research note on Monday, February 2nd. UBS Group reiterated a “buy” rating on shares of Teck Resources in a report on Tuesday, January 27th. Veritas upgraded Teck Resources from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 15th. Finally, TD Securities restated a “hold” rating on shares of Teck Resources in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, Teck Resources currently has an average rating of “Hold” and an average price target of $58.00.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.