Swiss National Bank Sells 69,200 Shares of Teck Resources Limited (NYSE:TECK)

Swiss National Bank trimmed its stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,322,379 shares of the basic materials company's stock after selling 69,200 shares during the quarter. Swiss National Bank owned about 0.27% of Teck Resources worth $53,588,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its position in Teck Resources by 21.7% during the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock valued at $388,507,000 after buying an additional 1,326,241 shares in the last quarter. Atria Investments Inc boosted its stake in Teck Resources by 18.3% during the 3rd quarter. Atria Investments Inc now owns 31,759 shares of the basic materials company's stock valued at $1,659,000 after acquiring an additional 4,914 shares during the last quarter. Metis Global Partners LLC raised its holdings in shares of Teck Resources by 29.9% during the third quarter. Metis Global Partners LLC now owns 38,324 shares of the basic materials company's stock worth $2,002,000 after purchasing an additional 8,825 shares during the period. Empowered Funds LLC raised its holdings in shares of Teck Resources by 3.4% during the third quarter. Empowered Funds LLC now owns 21,607 shares of the basic materials company's stock worth $1,129,000 after purchasing an additional 707 shares during the period. Finally, Natixis Advisors LLC raised its holdings in shares of Teck Resources by 129.6% during the third quarter. Natixis Advisors LLC now owns 246,190 shares of the basic materials company's stock worth $12,861,000 after purchasing an additional 138,952 shares during the period. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

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Teck Resources Price Performance

Shares of NYSE:TECK traded up $0.42 during trading hours on Wednesday, hitting $42.69. 3,316,885 shares of the company's stock traded hands, compared to its average volume of 3,255,901. Teck Resources Limited has a 52 week low of $36.54 and a 52 week high of $55.13. The company's fifty day simple moving average is $41.75 and its two-hundred day simple moving average is $44.86. The company has a market cap of $21.20 billion, a price-to-earnings ratio of 77.61 and a beta of 0.93. 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 announced its earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. The company had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. As a group, equities analysts anticipate that Teck Resources Limited will post 1.53 EPS 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 given 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 of this dividend is Friday, March 14th. Teck Resources's dividend payout ratio (DPR) is 61.82%.

Analyst Upgrades and Downgrades

TECK has been the topic of a number of research reports. National Bank Financial cut shares of Teck Resources from an "outperform" rating to a "sector perform" rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. dropped their price objective on shares of Teck Resources from $55.00 to $51.00 and set an "overweight" rating on the stock in a report on Thursday, January 16th. Bank of America increased their price objective on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Finally, Raymond James lowered 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 note on Wednesday, January 22nd. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock 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.