Intact Investment Management Inc. Has $3.03 Million Stock Position in Teck Resources Limited (NYSE:TECK)

Intact Investment Management Inc. decreased its position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 67.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,654 shares of the basic materials company's stock after selling 152,738 shares during the period. Intact Investment Management Inc.'s holdings in Teck Resources were worth $3,026,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Swedbank AB bought a new stake in shares of Teck Resources in the 4th quarter valued at approximately $103,878,000. FMR LLC grew its stake 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 purchasing an additional 1,531,563 shares during the period. AMF Tjanstepension AB grew its stake in shares of Teck Resources by 32.2% in the 4th quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company's stock valued at $244,252,000 after purchasing an additional 1,467,516 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in shares of Teck Resources in the 3rd quarter valued at approximately $70,549,000. Finally, Principal Financial Group Inc. grew its stake in shares of Teck Resources by 21.7% in the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock valued at $388,507,000 after purchasing an additional 1,326,241 shares during the period. Institutional investors and hedge funds own 78.06% of the company's stock.

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Teck Resources Trading Up 1.0 %

NYSE:TECK traded up $0.42 during trading hours on Wednesday, hitting $42.69. 3,316,885 shares of the stock were exchanged, compared to its average volume of 3,112,569. The company's 50 day moving average is $41.75 and its two-hundred day moving average is $44.86. Teck Resources Limited has a twelve month low of $36.54 and a twelve month 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 company has a market capitalization of $21.20 billion, a P/E ratio of 77.61 and a beta of 0.93.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. The firm 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%. On average, sell-side analysts anticipate that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 0.82%. The ex-dividend date is Friday, March 14th. Teck Resources's dividend payout ratio (DPR) is currently 61.82%.

Analyst Ratings Changes

A number of equities research analysts recently commented on TECK shares. 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. Raymond James decreased their price target on Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. decreased their price target on Teck Resources from $55.00 to $51.00 and set an "overweight" rating on the stock in a research report on Thursday, January 16th. Finally, National Bank Financial lowered Teck Resources from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, December 10th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Teck Resources currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.22.

About Teck Resources

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.