Foundation Resource Management Inc. Has $40.17 Million Stock Holdings in Teck Resources Limited (NYSE:TECK)

Foundation Resource Management Inc. lessened its stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 991,193 shares of the basic materials company's stock after selling 18,802 shares during the quarter. Teck Resources makes up about 6.7% of Foundation Resource Management Inc.'s holdings, making the stock its 3rd largest position. Foundation Resource Management Inc. owned approximately 0.20% of Teck Resources worth $40,173,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of TECK. Forest Avenue Capital Management LP increased its stake in Teck Resources by 3.7% in the 3rd quarter. Forest Avenue Capital Management LP now owns 720,920 shares of the basic materials company's stock valued at $37,661,000 after buying an additional 25,430 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Teck Resources in the third quarter valued at approximately $1,937,000. CIBC Asset Management Inc increased its position in shares of Teck Resources by 2.6% during the third quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company's stock valued at $341,337,000 after acquiring an additional 165,759 shares during the last quarter. Intech Investment Management LLC increased its position in shares of Teck Resources by 20.9% during the third quarter. Intech Investment Management LLC now owns 98,145 shares of the basic materials company's stock valued at $5,132,000 after acquiring an additional 16,981 shares during the last quarter. Finally, Paloma Partners Management Co bought a new stake in Teck Resources during the third quarter worth $20,896,000. Hedge funds and other institutional investors own 78.06% of the company's stock.

Teck Resources Stock Up 0.7 %

TECK opened at $42.51 on Wednesday. The company has a 50 day moving average of $44.15 and a 200 day moving average of $46.75. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. Teck Resources Limited has a 12 month low of $36.50 and a 12 month high of $55.13. The company has a market cap of $21.31 billion, a PE ratio of 64.41 and a beta of 1.05.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the company earned $0.57 earnings per share. The business's revenue for the quarter was down 20.6% on a year-over-year basis. On average, sell-side analysts expect that Teck Resources Limited will post 1.81 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $0.0895 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Friday, December 13th. Teck Resources's dividend payout ratio is presently 53.03%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TECK shares. JPMorgan Chase & Co. decreased their target price on Teck Resources from $57.00 to $55.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. Scotiabank increased their price target on shares of Teck Resources from $78.00 to $79.00 and gave the company a "sector outperform" rating in a research report on Tuesday, October 8th. Citigroup upgraded shares of Teck Resources to a "hold" rating in a report on Wednesday, October 2nd. StockNews.com upgraded shares of Teck Resources from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. Finally, National Bank Financial lowered shares of Teck Resources from an "outperform" rating to a "sector perform" rating in a research note on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $65.29.

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.

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