Teck Resources Limited (NYSE:TECK) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lowered its holdings in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 20.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 597,726 shares of the basic materials company's stock after selling 151,019 shares during the period. Ameriprise Financial Inc. owned approximately 0.12% of Teck Resources worth $24,226,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in TECK. Vanguard Group Inc. increased its stake in shares of Teck Resources by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company's stock valued at $783,153,000 after acquiring an additional 58,985 shares in the last quarter. Amundi increased its position in Teck Resources by 5.6% in the 4th quarter. Amundi now owns 14,949,233 shares of the basic materials company's stock valued at $619,765,000 after buying an additional 791,725 shares in the last quarter. Norges Bank bought a new position in Teck Resources in the fourth quarter worth approximately $470,101,000. Invesco Ltd. increased its stake in Teck Resources by 4.7% during the 4th quarter. Invesco Ltd. now owns 7,711,727 shares of the basic materials company's stock valued at $312,556,000 after purchasing an additional 347,235 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of Teck Resources by 2.0% in the 4th quarter. CIBC Asset Management Inc now owns 6,623,228 shares of the basic materials company's stock worth $269,956,000 after acquiring an additional 127,348 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Price Performance

TECK stock traded up $0.10 during midday trading on Tuesday, hitting $36.09. The company's stock had a trading volume of 290,993 shares, compared to its average volume of 3,147,887. The firm has a market capitalization of $17.78 billion, a price-to-earnings ratio of 65.63 and a beta of 0.79. The company has a 50 day moving average of $36.02 and a two-hundred day moving average of $40.66. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. Teck Resources Limited has a 12 month low of $28.32 and a 12 month high of $55.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.18. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $2.19 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The business's revenue was up 41.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 earnings per share. On average, analysts expect that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.0901 per share. The ex-dividend date is Monday, June 16th. This represents a $0.36 dividend on an annualized basis and a yield of 1.00%. This is an increase from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio is currently 58.62%.

Analyst Ratings Changes

A number of analysts recently commented on the company. UBS Group reiterated a "neutral" rating on shares of Teck Resources in a report on Tuesday, April 15th. Raymond James dropped their price objective on Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a research note on Wednesday, January 22nd. Bank of America lifted their price target on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. BMO Capital Markets initiated coverage on shares of Teck Resources in a report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Finally, Desjardins assumed coverage on shares of Teck Resources in a research report on Friday, April 4th. They set a "buy" rating on the stock. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Teck Resources has an average rating of "Moderate Buy" and a consensus target price of $64.11.

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.