CANADA LIFE ASSURANCE Co Has $9.96 Million Position in Teck Resources Limited (NYSE:TECK)

CANADA LIFE ASSURANCE Co trimmed its position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 39.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 246,397 shares of the basic materials company's stock after selling 160,844 shares during the period. CANADA LIFE ASSURANCE Co's holdings in Teck Resources were worth $9,964,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Synergy Asset Management LLC lifted its holdings in Teck Resources by 77.7% in the fourth quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company's stock worth $685,000 after purchasing an additional 7,387 shares during the period. FNY Investment Advisers LLC boosted its holdings in shares of Teck Resources by 709.5% in the fourth quarter. FNY Investment Advisers LLC now owns 17,000 shares of the basic materials company's stock valued at $689,000 after acquiring an additional 14,900 shares in the last quarter. Douglas Lane & Associates LLC increased its stake in shares of Teck Resources by 10.6% during the fourth quarter. Douglas Lane & Associates LLC now owns 950,612 shares of the basic materials company's stock valued at $38,528,000 after acquiring an additional 91,370 shares during the period. State Street Corp acquired a new position in shares of Teck Resources during the third quarter valued at approximately $2,500,000. Finally, Franklin Resources Inc. raised its holdings in Teck Resources by 11.4% during the third quarter. Franklin Resources Inc. now owns 324,870 shares of the basic materials company's stock worth $16,724,000 after purchasing an additional 33,235 shares in the last quarter. Institutional investors own 78.06% of the company's stock.

Teck Resources Stock Down 1.6 %

Shares of TECK traded down $0.59 during trading hours on Friday, reaching $35.65. The company's stock had a trading volume of 3,668,027 shares, compared to its average volume of 3,141,630. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The firm has a market cap of $17.57 billion, a price-to-earnings ratio of 64.82 and a beta of 0.81. The company has a 50 day moving average of $37.56 and a two-hundred day moving average of $42.15. Teck Resources Limited has a 1-year low of $28.32 and a 1-year high of $55.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.18. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $2.19 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. As a group, research analysts predict that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.0901 dividend. This is a boost from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date is Monday, June 16th. This represents a $0.36 annualized dividend and a dividend yield of 1.01%. Teck Resources's payout ratio is presently 61.82%.

Wall Street Analysts Forecast Growth

TECK has been the topic of several research analyst reports. Desjardins assumed coverage on Teck Resources in a research report on Friday, April 4th. They set a "buy" rating on the stock. National Bankshares raised Teck Resources from a "sector perform" rating to an "outperform" rating in a report on Thursday. JPMorgan Chase & Co. cut their price target on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. National Bank Financial raised shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Finally, Veritas upgraded shares of Teck Resources to a "hold" rating in a report on Friday, April 11th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.11.

Teck Resources 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.