Myriad Asset Management Advisors LLC Acquires Shares of 64,347 Teck Resources Ltd $TECK

Myriad Asset Management Advisors LLC acquired a new stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) during the fourth quarter, HoldingsChannel reports. The fund acquired 64,347 shares of the basic materials company’s stock, valued at approximately $3,082,000. Teck Resources accounts for 0.9% of Myriad Asset Management Advisors LLC’s holdings, making the stock its 29th biggest holding.

Other hedge funds have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position in Teck Resources by 72.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 351 shares during the period. Tobam increased its position in Teck Resources by 30.9% during the 3rd quarter. Tobam now owns 2,011 shares of the basic materials company’s stock valued at $88,000 after purchasing an additional 475 shares during the period. EverSource Wealth Advisors LLC increased its position in Teck Resources by 82.8% during the 3rd 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 period. Flagship Harbor Advisors LLC purchased a new position in Teck Resources during the 4th quarter valued at $103,000. Finally, Banque Cantonale Vaudoise increased its position in Teck Resources by 5,102.0% during the 3rd quarter. Banque Cantonale Vaudoise now owns 2,549 shares of the basic materials company’s stock valued at $112,000 after purchasing an additional 2,500 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Veritas downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Scotiabank reissued a “sector perform” rating on shares of Teck Resources in a research report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Teck Resources in a research report on Friday, May 15th. Wall Street Zen raised shares of Teck Resources to a “buy” rating in a research report on Saturday, May 16th. Finally, TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a research report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $59.17.

Teck Resources Stock Down 3.2%

NYSE:TECK opened at $59.89 on Thursday. The firm’s 50-day moving average price is $60.47 and its 200-day moving average price is $54.11. The company has a market capitalization of $28.88 billion, a PE ratio of 21.94, a P/E/G ratio of 4.53 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16. Teck Resources Ltd has a 1-year low of $30.98 and a 1-year high of $71.25.

Teck Resources Dividend Announcement

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

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.