Dodge & Cox Has $346.89 Million Holdings in Teck Resources Limited (NYSE:TECK)

Dodge & Cox lowered its position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 7.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,558,940 shares of the basic materials company's stock after selling 725,902 shares during the period. Dodge & Cox owned 1.72% of Teck Resources worth $346,894,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TECK. PNC Financial Services Group Inc. increased its holdings 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 valued at $471,000 after acquiring an additional 243 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in Teck Resources by 2.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 9,809 shares of the basic materials company's stock worth $398,000 after purchasing an additional 279 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in 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 purchasing an additional 297 shares during the last quarter. Commonwealth Equity Services LLC raised 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 purchasing an additional 302 shares during the period. Finally, Exchange Traded Concepts LLC lifted 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 buying an additional 327 shares during the last quarter. Institutional investors own 78.06% of the company's stock.

Teck Resources Price Performance

Shares of NYSE:TECK traded down $0.55 during midday trading on Friday, reaching $32.90. 2,714,398 shares of the company's stock were exchanged, compared to its average volume of 3,182,656. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The company's 50 day simple moving average is $38.42 and its two-hundred day simple moving average is $42.75. Teck Resources Limited has a 12 month low of $28.32 and a 12 month high of $55.13. The firm has a market capitalization of $16.28 billion, a PE ratio of 59.82 and a beta of 0.81.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced 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. 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. Equities research analysts expect that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently declared 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 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Friday, March 14th. Teck Resources's dividend payout ratio is 61.82%.

Wall Street Analyst Weigh In

Several research analysts recently commented on TECK shares. National Bankshares reiterated a "sector perform" rating on shares of Teck Resources in a report on Wednesday, April 2nd. BMO Capital Markets began coverage on Teck Resources in a research note on Wednesday. They issued an "outperform" rating on the stock. Raymond James decreased their target price 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. UBS Group reaffirmed a "neutral" rating on shares of Teck Resources in a research report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $64.11.

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.