Natixis Advisors LLC Reduces Stake in Teck Resources Limited (NYSE:TECK)

Natixis Advisors LLC cut its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 30.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 170,276 shares of the basic materials company's stock after selling 75,914 shares during the quarter. Natixis Advisors LLC's holdings in Teck Resources were worth $6,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of TECK. Stonebridge Financial Group LLC purchased a new stake in Teck Resources during the 4th quarter valued at $25,000. Global Trust Asset Management LLC bought a new position in Teck Resources during the 4th quarter valued at approximately $27,000. FPC Investment Advisory Inc. purchased a new position in shares of Teck Resources during the fourth quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB bought a new position in shares of Teck Resources during the third quarter valued at approximately $40,000. Finally, Jones Financial Companies Lllp lifted its stake in Teck Resources by 342.8% in the fourth quarter. Jones Financial Companies Lllp now owns 1,758 shares of the basic materials company's stock worth $71,000 after acquiring an additional 1,361 shares during the period. 78.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on TECK shares. National Bank Financial downgraded Teck Resources from an "outperform" rating to a "sector perform" rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. reduced their price target on Teck Resources from $55.00 to $51.00 and set an "overweight" rating on the stock in a research note on Thursday, January 16th. Raymond James lowered their price objective on Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a research report on Wednesday, January 22nd. Finally, Bank of America upped their target price on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Six research 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 data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $65.22.

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Teck Resources Stock Performance

Teck Resources stock traded up $0.42 during midday trading on Monday, reaching $41.89. 3,109,211 shares of the company traded hands, compared to its average volume of 3,097,773. Teck Resources Limited has a 12 month low of $36.54 and a 12 month high of $55.13. The firm has a market capitalization of $21.08 billion, a price-to-earnings ratio of 76.16 and a beta of 0.93. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The business has a 50 day moving average of $41.78 and a two-hundred day moving average of $44.76.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. The company had revenue of $1.99 billion during 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%. As a group, research analysts predict that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.0879 per share. The ex-dividend date is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.84%. Teck Resources's dividend payout ratio is currently 61.82%.

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.