Teck Resources Limited (NYSE:TECK) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP cut its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 6.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 5,315,977 shares of the basic materials company's stock after selling 385,655 shares during the period. Dimensional Fund Advisors LP owned about 1.07% of Teck Resources worth $215,450,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its position in shares of Teck Resources by 2.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the basic materials company's stock worth $471,000 after purchasing an additional 243 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in Teck Resources by 2.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 9,809 shares of the basic materials company's stock worth $398,000 after buying an additional 279 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Teck Resources by 6.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,844 shares of the basic materials company's stock valued at $196,000 after acquiring an additional 297 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Teck Resources by 2.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company's stock valued at $566,000 after acquiring an additional 302 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Teck Resources by 7.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company's stock worth $198,000 after acquiring an additional 327 shares during the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TECK has been the subject of several recent research reports. Bank of America increased their price objective on Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Veritas upgraded shares of Teck Resources to a "hold" rating in a research report on Friday, April 11th. National Bankshares restated a "sector perform" rating on shares of Teck Resources in a research report on Wednesday, April 2nd. Desjardins initiated coverage on shares of Teck Resources in a research note on Friday, April 4th. They set a "buy" rating for the company. Finally, JPMorgan Chase & Co. decreased their target price on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Eight equities research 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 stock. According to data from MarketBeat.com, Teck Resources has a consensus rating of "Moderate Buy" and an average price target of $64.11.

Teck Resources Stock Performance

Shares of Teck Resources stock opened at $33.88 on Wednesday. The business's fifty day simple moving average is $38.01 and its 200-day simple moving average is $42.50. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The firm has a market cap of $16.77 billion, a PE ratio of 61.61 and a beta of 0.81. Teck Resources Limited has a 52 week low of $28.32 and a 52 week high of $55.13.

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 earnings per share 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 analyst estimates of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. Equities analysts forecast 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 was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.0879 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Friday, March 14th. Teck Resources's payout ratio is 61.82%.

Teck Resources 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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