Dodge & Cox Decreases Stock Holdings in Teck Resources Limited (NYSE:TECK)

Dodge & Cox lowered its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 7.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,558,940 shares of the basic materials company's stock after selling 725,902 shares during the period. Dodge & Cox owned approximately 1.72% of Teck Resources worth $346,894,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Stonebridge Financial Group LLC purchased a new stake in Teck Resources in the fourth quarter worth approximately $25,000. Global Trust Asset Management LLC bought a new stake in shares of Teck Resources in the fourth quarter worth $27,000. FPC Investment Advisory Inc. purchased a new stake in Teck Resources during the fourth quarter valued at $27,000. Community Bank N.A. purchased a new position in Teck Resources in the fourth quarter worth about $33,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Teck Resources during the 3rd quarter valued at about $40,000. Hedge funds and other institutional investors own 78.06% of the company's stock.

Teck Resources Stock Performance

NYSE:TECK traded down $0.55 during trading hours on Friday, reaching $32.90. The company had a trading volume of 2,714,398 shares, compared to its average volume of 3,184,467. The firm has a market cap of $16.28 billion, a PE ratio of 59.82 and a beta of 0.81. Teck Resources Limited has a 1-year low of $28.32 and a 1-year high of $55.13. The business's 50 day moving average price is $38.60 and its 200-day moving average price is $42.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35.

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

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.0879 dividend. This represents a $0.35 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Friday, March 14th. Teck Resources's payout ratio is presently 61.82%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TECK. Desjardins started coverage on shares of Teck Resources in a research report on Friday, April 4th. They set a "buy" rating for the company. BMO Capital Markets assumed coverage on shares of Teck Resources in a research report on Wednesday. They set an "outperform" rating for the company. Veritas raised Teck Resources to a "hold" rating in a report on Friday, April 11th. Bank of America boosted their price target on Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a report on Monday, March 10th. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of Teck Resources in a research note on Wednesday, April 2nd. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $64.11.

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.