Groupama Asset Managment Has $63.65 Million Position in Teck Resources Limited (NYSE:TECK)

Groupama Asset Managment lessened its stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 32.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,566,501 shares of the basic materials company's stock after selling 753,123 shares during the period. Groupama Asset Managment owned about 0.31% of Teck Resources worth $63,650,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new position in shares of Teck Resources in the 4th quarter worth approximately $25,000. Global Trust Asset Management LLC bought a new position in Teck Resources during the fourth quarter worth $27,000. FPC Investment Advisory Inc. bought a new position in Teck Resources during the fourth quarter worth $27,000. Community Bank N.A. acquired a new position in Teck Resources in the fourth quarter worth $33,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Teck Resources during the third quarter valued at $40,000. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Price Performance

NYSE TECK traded down $4.11 on Friday, reaching $29.97. The company's stock had a trading volume of 8,955,755 shares, compared to its average volume of 3,162,983. The firm's 50 day moving average is $40.72 and its two-hundred day moving average is $44.25. The stock has a market cap of $14.83 billion, a PE ratio of 54.48 and a beta of 0.81. 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 Limited has a twelve month low of $29.26 and a twelve month high of $55.13.

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Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. The firm had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. As a group, sell-side analysts predict 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 given a $0.0879 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.17%. Teck Resources's dividend payout ratio (DPR) is 61.82%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TECK shares. Raymond James reduced their price target on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 22nd. National Bank Financial downgraded Teck Resources from an "outperform" rating to a "sector perform" rating in a research note on Tuesday, December 10th. Bank of America increased 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. JPMorgan Chase & Co. cut their target price on Teck Resources from $55.00 to $51.00 and set an "overweight" rating on the stock in a research note on Thursday, January 16th. Finally, Desjardins assumed coverage on shares of Teck Resources in a report on Friday. They issued a "buy" rating on the stock. Six 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. Based on data from MarketBeat.com, Teck Resources presently has an average rating of "Moderate Buy" and an average target price of $65.22.

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.