Russell Investments Group Ltd. Sells 116,812 Shares of Teck Resources Limited (NYSE:TECK)

Russell Investments Group Ltd. trimmed its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 35.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 213,241 shares of the basic materials company's stock after selling 116,812 shares during the quarter. Russell Investments Group Ltd.'s holdings in Teck Resources were worth $8,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of TECK. Stonebridge Financial Group LLC bought a new stake in Teck Resources during the 4th quarter valued at $25,000. Global Trust Asset Management LLC bought a new position in shares of Teck Resources during the fourth quarter valued at about $27,000. FPC Investment Advisory Inc. bought a new stake in shares of Teck Resources in the fourth quarter worth about $27,000. Community Bank N.A. bought a new stake in shares of Teck Resources in the fourth quarter worth about $33,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Teck Resources during the 3rd quarter valued at approximately $40,000. Institutional investors own 78.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TECK shares. Raymond James cut their price objective 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. reduced their price objective on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a research report on Thursday. National Bankshares reaffirmed a "sector perform" rating on shares of Teck Resources in a research report on Wednesday, April 2nd. Bank of America boosted their price target on shares of Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Finally, Desjardins assumed coverage on shares of Teck Resources in a report on Friday, April 4th. They issued a "buy" rating for the company. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $64.11.

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Teck Resources Stock Up 6.0 %

Shares of NYSE:TECK opened at $33.66 on Friday. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $39.35 and a two-hundred day simple moving average of $43.42. Teck Resources Limited has a 12-month low of $28.32 and a 12-month high of $55.13. The stock has a market capitalization of $16.66 billion, a price-to-earnings ratio of 61.20 and a beta of 0.81.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly 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 during the quarter, compared to analyst estimates of $2.58 billion. On average, research analysts anticipate that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.0879 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Friday, March 14th. Teck Resources's payout ratio is 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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