Teck Resources Limited (NYSE:TECK) Shares Sold by Diametric Capital LP

Diametric Capital LP cut its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 50.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,476 shares of the basic materials company's stock after selling 9,624 shares during the quarter. Diametric Capital LP's holdings in Teck Resources were worth $384,000 as of its most recent SEC filing.

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

Teck Resources Price Performance

Shares of TECK traded down $4.11 during trading hours on Friday, reaching $29.97. 8,955,755 shares of the company traded hands, compared to its average volume of 3,162,983. The stock has a market capitalization of $14.83 billion, a PE ratio of 54.48 and a beta of 0.81. The stock has a fifty day simple moving average of $40.72 and a 200 day simple moving average of $44.25. Teck Resources Limited has a fifty-two week low of $29.26 and a fifty-two week high of $55.13. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16.

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Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. As a group, research analysts predict that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.0879 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.35 annualized dividend and a yield of 1.17%. Teck Resources's dividend payout ratio (DPR) is presently 61.82%.

Wall Street Analysts Forecast Growth

TECK has been the topic of a number of recent analyst reports. Bank of America upped their price objective on Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Monday, March 10th. JPMorgan Chase & Co. lowered their price target on shares of Teck Resources from $55.00 to $51.00 and set an "overweight" rating on the stock in a research note on Thursday, January 16th. National Bank Financial downgraded shares of Teck Resources from an "outperform" rating to a "sector perform" rating in a report on Tuesday, December 10th. Desjardins began coverage on shares of Teck Resources in a report on Friday. They issued a "buy" rating for the company. Finally, Raymond James reduced their price target on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a research report on Wednesday, January 22nd. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $65.22.

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.