Boston Partners Lowers Stake in Teck Resources Limited (NYSE:TECK)

Boston Partners decreased its holdings in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 29.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,078,572 shares of the basic materials company's stock after selling 3,713,865 shares during the period. Boston Partners owned about 1.82% of Teck Resources worth $393,594,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of TECK. Stonebridge Financial Group LLC bought a new position in Teck Resources in the fourth quarter worth approximately $25,000. Global Trust Asset Management LLC bought a new position in Teck Resources in the fourth quarter worth approximately $27,000. FPC Investment Advisory Inc. bought a new position in Teck Resources in the fourth quarter worth approximately $27,000. Wilmington Savings Fund Society FSB bought a new position in Teck Resources in the third quarter worth approximately $40,000. Finally, Jones Financial Companies Lllp increased its position in shares of Teck Resources by 342.8% during the fourth quarter. Jones Financial Companies Lllp now owns 1,758 shares of the basic materials company's stock worth $71,000 after purchasing an additional 1,361 shares in the last quarter. Institutional investors own 78.06% of the company's stock.

Teck Resources Stock Performance

Shares of TECK traded down $0.96 during trading hours on Friday, reaching $41.53. 3,531,829 shares of the company traded hands, compared to its average volume of 3,097,012. The stock has a market capitalization of $20.90 billion, a P/E ratio of 75.50 and a beta of 0.93. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. Teck Resources Limited has a 12-month low of $36.54 and a 12-month high of $55.13. The business has a fifty day moving average price of $41.79 and a 200-day moving average price of $44.78.

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Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.26 by $0.07. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.58 billion. Equities analysts anticipate that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.0879 dividend. This represents a $0.35 annualized dividend and a yield of 0.85%. The ex-dividend date is Friday, March 14th. Teck Resources's payout ratio is 61.82%.

Analyst Ratings Changes

TECK has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price target on Teck Resources from $55.00 to $51.00 and set an "overweight" rating on the stock in a research report on Thursday, January 16th. National Bank Financial downgraded Teck Resources from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, December 10th. Bank of America upped their price target on Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Finally, Raymond James reduced their price target on Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 22nd. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $65.22.

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.