Pacifica Partners Inc. Has $924,000 Stock Holdings in Teck Resources Limited (NYSE:TECK)

Pacifica Partners Inc. trimmed its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,118 shares of the basic materials company’s stock after selling 780 shares during the quarter. Pacifica Partners Inc.’s holdings in Teck Resources were worth $924,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Stonebridge Financial Group LLC bought a new stake in Teck Resources during the 4th quarter worth approximately $25,000. FPC Investment Advisory Inc. bought a new stake in Teck Resources during the 4th quarter worth approximately $27,000. Community Bank N.A. bought a new stake in Teck Resources during the 4th quarter worth approximately $33,000. Ameriflex Group Inc. bought a new stake in Teck Resources during the 4th quarter worth approximately $50,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Teck Resources in the 4th quarter valued at $55,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on TECK. UBS Group reaffirmed a “neutral” rating on shares of Teck Resources in a research note on Tuesday, April 15th. Bank of America increased their target price on shares of Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Veritas raised shares of Teck Resources to a “hold” rating in a research note on Friday, April 11th. National Bank Financial raised shares of Teck Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. cut their target price on shares of Teck Resources from $50.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $64.11.

Teck Resources Stock Performance

Shares of TECK stock opened at $37.07 on Friday. The firm has a 50-day moving average of $35.04 and a 200-day moving average of $40.04. The company has a market cap of $18.27 billion, a P/E ratio of 67.40 and a beta of 0.79. 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 Limited has a one year low of $28.32 and a one year high of $54.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, April 24th. The basic materials company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.24 by $0.18. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $2.19 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The firm’s revenue for the quarter was up 41.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 earnings per share. Equities research analysts forecast that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.0901 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.36 annualized dividend and a dividend yield of 0.97%. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio is currently 58.62%.

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.