AGF Management Ltd. cut its stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 14.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,311 shares of the basic materials company's stock after selling 26,119 shares during the period. AGF Management Ltd.'s holdings in Teck Resources were worth $6,216,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of Teck Resources by 21.7% in the 3rd 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. Assetmark Inc. acquired a new stake in Teck Resources in the 3rd quarter valued at approximately $954,000. Atria Investments Inc increased its position in Teck Resources by 18.3% in the 3rd quarter. Atria Investments Inc now owns 31,759 shares of the basic materials company's stock worth $1,659,000 after buying an additional 4,914 shares during the period. Regal Partners Ltd lifted its holdings in shares of Teck Resources by 1.4% during the third quarter. Regal Partners Ltd now owns 2,728,980 shares of the basic materials company's stock worth $142,562,000 after buying an additional 38,949 shares during the last quarter. Finally, Metis Global Partners LLC grew its stake in shares of Teck Resources by 29.9% in the third quarter. Metis Global Partners LLC now owns 38,324 shares of the basic materials company's stock worth $2,002,000 after acquiring an additional 8,825 shares during the last quarter. 78.06% of the stock is owned by institutional investors.
Teck Resources Stock Performance
Teck Resources stock opened at $40.03 on Thursday. Teck Resources Limited has a 12-month low of $36.54 and a 12-month high of $55.13. The stock has a 50-day simple moving average of $41.70 and a 200 day simple moving average of $45.09. 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 stock has a market capitalization of $19.88 billion, a price-to-earnings ratio of 72.78 and a beta of 0.93.
Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings data 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. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The firm had revenue of $1.99 billion during the quarter, compared to analysts' expectations 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 will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.0879 per share. This represents a $0.35 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources's dividend payout ratio (DPR) is presently 61.82%.
Analyst Ratings Changes
A number of analysts have weighed in on TECK shares. 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 report on Wednesday, January 22nd. Bank of America increased their target price on shares of Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a research note on Monday. National Bank Financial lowered Teck Resources from an "outperform" rating to a "sector perform" rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. lowered their price objective on Teck Resources from $55.00 to $51.00 and set an "overweight" rating on the stock in a research report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $65.22.
Get Our Latest Stock Report on TECK
Teck Resources Profile
(
Free Report)
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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