Heathbridge Capital Management Ltd. Sells 29,400 Shares of Teck Resources Limited (NYSE:TECK)

Heathbridge Capital Management Ltd. lessened its position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 17.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,800 shares of the basic materials company's stock after selling 29,400 shares during the quarter. Teck Resources comprises about 2.3% of Heathbridge Capital Management Ltd.'s investment portfolio, making the stock its 20th biggest position. Heathbridge Capital Management Ltd.'s holdings in Teck Resources were worth $5,824,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new stake in Teck Resources in the 4th quarter worth $25,000. Global Trust Asset Management LLC acquired a new stake in Teck Resources in the 4th quarter worth $27,000. Eastern Bank acquired a new stake in Teck Resources in the 3rd quarter worth $39,000. Wilmington Savings Fund Society FSB acquired a new stake in Teck Resources in the 3rd quarter worth $40,000. Finally, Principal Securities Inc. grew its position in Teck Resources by 49.9% in the 4th quarter. Principal Securities Inc. now owns 2,858 shares of the basic materials company's stock worth $116,000 after purchasing an additional 952 shares during the last quarter. Institutional investors own 78.06% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on TECK shares. UBS Group lowered shares of Teck Resources from a "buy" rating to a "neutral" rating in a research report on Monday, November 11th. JPMorgan Chase & Co. decreased their target price on shares of Teck Resources from $55.00 to $51.00 and set an "overweight" rating on the stock in a research report on Thursday, January 16th. National Bank Financial lowered shares of Teck Resources from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft lowered shares of Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 target price on the stock. in a research report on Friday, October 25th. Finally, StockNews.com upgraded shares of Teck Resources from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $65.38.

Teck Resources Price Performance

NYSE:TECK traded up $0.64 on Thursday, reaching $43.34. The stock had a trading volume of 3,927,992 shares, compared to its average volume of 2,883,969. The company has a market capitalization of $21.61 billion, a P/E ratio of 65.66 and a beta of 1.02. Teck Resources Limited has a 1-year low of $37.30 and a 1-year high of $55.13. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average price of $42.01 and a 200-day moving average price of $45.74.

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 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. Research analysts forecast that Teck Resources Limited will post 1.64 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.0879 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources's dividend payout ratio is presently 53.03%.

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.