Signet Private Wealth LLC Makes New $421,000 Investment in Teck Resources Ltd $TECK

Signet Private Wealth LLC bought a new position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 8,785 shares of the basic materials company’s stock, valued at approximately $421,000.

Other large investors have also bought and sold shares of the company. Smartleaf Asset Management LLC increased its position in Teck Resources by 72.4% in the third quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock worth $37,000 after buying an additional 351 shares during the last quarter. Tobam increased its position in Teck Resources by 30.9% in the third quarter. Tobam now owns 2,011 shares of the basic materials company’s stock worth $88,000 after buying an additional 475 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in Teck Resources in the fourth quarter worth $103,000. EverSource Wealth Advisors LLC increased its position in Teck Resources by 82.8% in the third quarter. EverSource Wealth Advisors LLC now owns 2,217 shares of the basic materials company’s stock worth $97,000 after buying an additional 1,004 shares during the last quarter. Finally, Banque Cantonale Vaudoise increased its position in Teck Resources by 5,102.0% in the third quarter. Banque Cantonale Vaudoise now owns 2,549 shares of the basic materials company’s stock worth $112,000 after buying an additional 2,500 shares during the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Price Performance

Teck Resources stock opened at $59.89 on Thursday. Teck Resources Ltd has a one year low of $30.98 and a one year high of $71.25. The business has a fifty day moving average price of $60.47 and a 200-day moving average price of $54.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16. The firm has a market capitalization of $28.88 billion, a P/E ratio of 21.94, a PEG ratio of 4.53 and a beta of 0.89.

Teck Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, June 15th. Teck Resources’s dividend payout ratio (DPR) is presently 13.55%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TECK shares. Veritas downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Zacks Research downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a report on Friday, April 24th. JPMorgan Chase & Co. raised their price target on Teck Resources from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Finally, Benchmark raised their price target on Teck Resources from $48.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Five equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $59.17.

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.