Parallel Advisors LLC Sells 1,754 Shares of Teck Resources Ltd $TECK

Parallel Advisors LLC lowered its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 50.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,703 shares of the basic materials company’s stock after selling 1,754 shares during the quarter. Parallel Advisors LLC’s holdings in Teck Resources were worth $69,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its stake in shares of Teck Resources by 69.2% during the first quarter. Smartleaf Asset Management LLC now owns 856 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 350 shares during the period. Costello Asset Management INC acquired a new position in shares of Teck Resources during the first quarter valued at $33,000. Banque Cantonale Vaudoise acquired a new position in shares of Teck Resources during the first quarter valued at $36,000. Golden State Wealth Management LLC lifted its stake in shares of Teck Resources by 7,560.0% during the first quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 1,134 shares during the period. Finally, Ameriflex Group Inc. acquired a new position in shares of Teck Resources during the fourth quarter valued at $50,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TECK shares. Stifel Canada raised Teck Resources to a “hold” rating in a research note on Tuesday, July 8th. B. Riley lowered Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Cibc World Mkts lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 25th. CIBC lowered Teck Resources from a “sector outperform” rating to a “neutral” rating in a research note on Friday, July 25th. Finally, Benchmark cut their target price on Teck Resources from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.88.

Teck Resources Stock Performance

Shares of NYSE TECK opened at $40.00 on Friday. The stock has a 50 day moving average price of $35.23 and a 200 day moving average price of $36.50. Teck Resources Ltd has a 52 week low of $28.32 and a 52 week high of $54.13. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.45 and a current ratio of 3.47. The stock has a market capitalization of $19.21 billion, a PE ratio of 105.26, a price-to-earnings-growth ratio of 0.59 and a beta of 0.78.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.07. Teck Resources had a return on equity of 3.91% and a net margin of 2.51%.The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period last year, the firm posted $0.79 earnings per share. The business’s revenue was up 12.3% on a year-over-year basis. Analysts predict that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.0918 per share. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, September 15th. This represents a $0.37 dividend on an annualized basis and a yield of 0.9%. Teck Resources’s dividend payout ratio is 94.74%.

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.