Braun Stacey Associates Inc. Sells 218,205 Shares of Teck Resources Ltd $TECK

Braun Stacey Associates Inc. cut its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 61.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 137,112 shares of the basic materials company’s stock after selling 218,205 shares during the quarter. Braun Stacey Associates Inc.’s holdings in Teck Resources were worth $8,153,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Brown Brothers Harriman & Co. acquired a new position in Teck Resources during the 4th quarter worth approximately $25,000. Blue Trust Inc. grew its stake in Teck Resources by 411.8% in the first quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 453 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Teck Resources by 117.4% during the first quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 303 shares in the last quarter. Oslo Pensjonsforsikring AS bought a new stake in shares of Teck Resources during the first quarter valued at approximately $83,000. Finally, Versant Capital Management Inc raised its position in shares of Teck Resources by 86.5% during the second quarter. Versant Capital Management Inc now owns 1,587 shares of the basic materials company’s stock worth $94,000 after purchasing an additional 736 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TECK has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on Teck Resources from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a report on Monday, June 15th. Weiss Ratings raised shares of Teck Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 4th. Wall Street Zen cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 26th. Finally, Raymond James Financial raised shares of Teck Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 23rd. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.25.

Teck Resources Stock Down 1.6%

Shares of NYSE:TECK opened at $69.42 on Friday. The business’s 50 day moving average is $61.97 and its 200 day moving average is $59.66. Teck Resources Ltd has a 12-month low of $31.68 and a 12-month high of $71.93. The stock has a market cap of $33.53 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 2.54 and a beta of 0.92. The company has a quick ratio of 2.33, a current ratio of 3.12 and a debt-to-equity ratio of 0.12.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.40. The business had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Teck Resources had a return on equity of 10.42% and a net margin of 17.85%.The business’s revenue was up 78.2% on a year-over-year basis. During the same period last year, the business earned $0.38 EPS. On average, sell-side analysts forecast that Teck Resources Ltd will post 3.48 earnings per share for the current fiscal year.

Teck Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a $0.125 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.50 annualized dividend and a yield of 0.7%. Teck Resources’s dividend payout ratio (DPR) is 9.76%.

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.