Wellington Management Group LLP Sells 60,404 Shares of Teck Resources Limited (NYSE:TECK)

Wellington Management Group LLP lessened its position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 57.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 43,897 shares of the basic materials company's stock after selling 60,404 shares during the quarter. Wellington Management Group LLP's holdings in Teck Resources were worth $1,779,000 at the end of the most recent quarter.

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

Teck Resources Stock Performance

NYSE TECK traded up $0.12 during trading hours on Tuesday, reaching $33.85. 2,051,748 shares of the company were exchanged, compared to its average volume of 3,190,703. 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 $16.75 billion, a P/E ratio of 61.55 and a beta of 0.81. Teck Resources Limited has a 1 year low of $28.32 and a 1 year high of $55.13. The business's 50 day simple moving average is $39.00 and its 200-day simple moving average is $43.15.

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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 EPS for the quarter, beating the consensus estimate of $0.26 by $0.07. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. On average, equities research analysts expect that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.0879 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Friday, March 14th. Teck Resources's dividend payout ratio is currently 61.82%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Raymond James cut their price objective on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 22nd. Bank of America boosted their price objective on Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a report on Monday, March 10th. Veritas upgraded Teck Resources to a "hold" rating in a report on Friday. National Bankshares restated a "sector perform" rating on shares of Teck Resources in a research note on Wednesday, April 2nd. Finally, UBS Group reaffirmed a "neutral" rating on shares of Teck Resources in a research note on Tuesday. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Teck Resources presently has an average rating of "Moderate Buy" and an average price target of $64.11.

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.