FIL Ltd trimmed its holdings in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 18.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,744,575 shares of the basic materials company's stock after selling 3,202,533 shares during the period. FIL Ltd owned about 2.76% of Teck Resources worth $557,260,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its stake in Teck Resources by 2.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the basic materials company's stock worth $471,000 after purchasing an additional 243 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Teck Resources by 2.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 9,809 shares of the basic materials company's stock worth $398,000 after buying an additional 279 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in shares of Teck Resources by 6.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,844 shares of the basic materials company's stock worth $196,000 after buying an additional 297 shares in the last quarter. Commonwealth Equity Services LLC raised its position in Teck Resources by 2.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company's stock valued at $566,000 after buying an additional 302 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in Teck Resources by 7.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company's stock valued at $198,000 after acquiring an additional 327 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on TECK shares. National Bankshares reaffirmed a "sector perform" rating on shares of Teck Resources in a research note on Wednesday, April 2nd. Bank of America boosted their price target on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. JPMorgan Chase & Co. decreased their price objective on Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a report on Thursday. Desjardins began coverage on Teck Resources in a report on Friday, April 4th. They set a "buy" rating on the stock. Finally, Raymond James decreased their price target on Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a research note on Wednesday, January 22nd. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $64.11.
Read Our Latest Research Report on TECK
Teck Resources Stock Performance
Shares of TECK stock traded up $1.91 during midday trading on Friday, hitting $33.66. 5,399,661 shares of the company were exchanged, compared to its average volume of 3,197,178. Teck Resources Limited has a 52 week low of $28.32 and a 52 week high of $55.13. The firm has a market capitalization of $16.66 billion, a P/E ratio of 61.20 and a beta of 0.81. The firm's 50 day moving average price is $39.35 and its two-hundred day moving average price is $43.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92.
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 the consensus estimate of $0.26 by $0.07. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. As a group, equities research analysts anticipate that Teck Resources Limited will post 1.53 earnings per share for the current year.
Teck Resources Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.0879 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Friday, March 14th. Teck Resources's dividend payout ratio is currently 61.82%.
Teck Resources Company Profile
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Free Report)
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.
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