Korea Investment CORP lowered its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 69.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 358,791 shares of the basic materials company's stock after selling 832,510 shares during the quarter. Korea Investment CORP owned about 0.07% of Teck Resources worth $14,539,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its holdings in shares of Teck Resources by 2.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the basic materials company's stock worth $471,000 after buying an additional 243 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Teck Resources by 2.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 9,809 shares of the basic materials company's stock valued at $398,000 after acquiring an additional 279 shares during the period. Steward Partners Investment Advisory LLC grew its position in shares of Teck Resources by 6.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,844 shares of the basic materials company's stock valued at $196,000 after purchasing an additional 297 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Teck Resources by 2.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company's stock worth $566,000 after purchasing an additional 302 shares during the period. Finally, Exchange Traded Concepts LLC increased its stake in shares of Teck Resources by 7.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company's stock worth $198,000 after purchasing an additional 327 shares during the period. Institutional investors and hedge funds own 78.06% of the company's stock.
Teck Resources Price Performance
Shares of Teck Resources stock traded down $2.60 during trading on Thursday, hitting $35.00. 3,958,338 shares of the company's stock traded hands, compared to its average volume of 3,151,623. The company has a market cap of $17.32 billion, a PE ratio of 63.64 and a beta of 0.93. The firm's fifty day moving average price is $41.17 and its 200 day moving average price is $44.46. Teck Resources Limited has a twelve month low of $34.41 and a twelve month 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 data 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 return on equity of 4.59% and a net margin of 2.96%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.58 billion. Analysts forecast that Teck Resources Limited will post 1.53 earnings per share for the current year.
Teck Resources Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.0879 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.35 annualized dividend and a yield of 1.00%. Teck Resources's dividend payout ratio is currently 61.82%.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on TECK shares. JPMorgan Chase & Co. lowered their target price on Teck Resources from $55.00 to $51.00 and set an "overweight" rating on the stock in a report on Thursday, January 16th. National Bank Financial cut Teck Resources from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, December 10th. Raymond James dropped their target price 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. Finally, Bank of America increased their price target on shares of Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a report on Monday, March 10th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $65.22.
Read Our Latest Stock Report on TECK
Teck Resources Company Profile
(
Free Report)
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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