Hartree Partners LP Sells 286,756 Shares of Teck Resources Limited (NYSE:TECK)

Hartree Partners LP reduced its holdings in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 52.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 259,787 shares of the basic materials company's stock after selling 286,756 shares during the period. Teck Resources comprises 3.9% of Hartree Partners LP's holdings, making the stock its 7th biggest position. Hartree Partners LP owned about 0.05% of Teck Resources worth $10,529,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in TECK. Principal Financial Group Inc. raised its holdings in shares of Teck Resources by 21.7% during the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock worth $388,507,000 after acquiring an additional 1,326,241 shares during the period. Cerity Partners LLC lifted its stake in Teck Resources by 374.7% in the third quarter. Cerity Partners LLC now owns 39,625 shares of the basic materials company's stock worth $2,070,000 after acquiring an additional 31,278 shares during the last quarter. FMR LLC increased its holdings in shares of Teck Resources by 72.8% in the 3rd quarter. FMR LLC now owns 3,634,430 shares of the basic materials company's stock valued at $189,848,000 after acquiring an additional 1,531,563 shares during the last quarter. D.A. Davidson & CO. raised its stake in Teck Resources by 85.0% during the 3rd quarter. D.A. Davidson & CO. now owns 17,031 shares of the basic materials company's stock worth $890,000 after acquiring an additional 7,826 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Teck Resources by 194.2% in the third quarter. BNP Paribas Financial Markets now owns 141,593 shares of the basic materials company's stock valued at $7,397,000 after buying an additional 93,459 shares during the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

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Teck Resources Stock Down 6.1 %

Teck Resources stock traded down $2.29 during midday trading on Thursday, hitting $35.31. 3,183,647 shares of the company were exchanged, compared to its average volume of 3,316,737. The company has a market cap of $17.47 billion, a PE ratio of 64.20 and a beta of 0.93. The company's fifty day moving average price is $41.17 and its 200-day moving average price is $44.46. Teck Resources Limited has a fifty-two week low of $34.39 and a fifty-two week high of $55.13. 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 released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.58 billion. On average, research analysts predict that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.0879 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Friday, March 14th. Teck Resources's payout ratio is currently 61.82%.

Analysts Set New Price Targets

TECK has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Teck Resources from $55.00 to $51.00 and set an "overweight" rating for the company in a research note on Thursday, January 16th. Bank of America raised 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. Raymond James decreased their price objective on Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, January 22nd. Finally, National Bank Financial lowered 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, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Teck Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $65.22.

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.