Marshall Wace LLP Reduces Stock Position in Teck Resources Limited (NYSE:TECK)

Marshall Wace LLP lessened its stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 41.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 199,012 shares of the basic materials company's stock after selling 139,012 shares during the period. Marshall Wace LLP's holdings in Teck Resources were worth $8,066,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TECK. Stonebridge Financial Group LLC bought a new stake in shares of Teck Resources in the fourth quarter worth $25,000. Global Trust Asset Management LLC bought a new stake in shares of Teck Resources during the 4th quarter valued at about $27,000. FPC Investment Advisory Inc. purchased a new stake in shares of Teck Resources during the 4th quarter valued at about $27,000. Community Bank N.A. purchased a new stake in shares of Teck Resources during the 4th quarter valued at about $33,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Teck Resources in the 3rd quarter worth approximately $40,000. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TECK. Desjardins began coverage on shares of Teck Resources in a report on Friday, April 4th. They set a "buy" rating for the company. Raymond James reduced their price objective on Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a research note on Wednesday, January 22nd. BMO Capital Markets started coverage on Teck Resources in a research report on Wednesday, April 16th. They set an "outperform" rating on the stock. National Bankshares restated a "sector perform" rating on shares of Teck Resources in a research report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. cut their price objective on Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.11.

Teck Resources Stock Performance

Shares of NYSE TECK opened at $33.88 on Wednesday. The firm's fifty day moving average is $38.01 and its two-hundred day moving average is $42.50. Teck Resources Limited has a 52-week low of $28.32 and a 52-week high of $55.13. The company has a market cap of $16.77 billion, a P/E ratio of 61.61 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 (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 (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The firm had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $2.58 billion. As a group, analysts anticipate that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.04%. Teck Resources's dividend payout ratio is currently 61.82%.

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.

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