Duquesne Family Office LLC Cuts Position in Teck Resources Limited (NYSE:TECK)

Duquesne Family Office LLC trimmed its position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 57.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 431,545 shares of the basic materials company's stock after selling 585,540 shares during the quarter. Duquesne Family Office LLC owned 0.09% of Teck Resources worth $17,491,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TECK. Vanguard Group Inc. raised its stake in shares of Teck Resources by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company's stock worth $783,153,000 after buying an additional 58,985 shares in the last quarter. Amundi grew its holdings in Teck Resources by 5.6% during the fourth quarter. Amundi now owns 14,949,233 shares of the basic materials company's stock worth $619,765,000 after acquiring an additional 791,725 shares during the period. Norges Bank purchased a new position in Teck Resources in the fourth quarter worth $470,101,000. Invesco Ltd. lifted its holdings in Teck Resources by 4.7% in the fourth quarter. Invesco Ltd. now owns 7,711,727 shares of the basic materials company's stock valued at $312,556,000 after acquiring an additional 347,235 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Teck Resources by 21.7% during the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock worth $388,507,000 after purchasing an additional 1,326,241 shares in the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. National Bankshares upgraded shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a research note on Thursday, April 24th. BMO Capital Markets started coverage on shares of Teck Resources in a research report on Wednesday, April 16th. They set an "outperform" rating for the company. Desjardins started coverage on Teck Resources in a report on Friday, April 4th. They issued a "buy" rating on the stock. 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 report on Thursday, April 10th. Finally, Raymond James lowered their target price on Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, January 22nd. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $64.11.

Teck Resources Trading Up 3.2 %

TECK traded up $1.10 during trading on Friday, hitting $35.81. The company's stock had a trading volume of 3,074,075 shares, compared to its average volume of 3,126,661. Teck Resources Limited has a twelve month low of $28.32 and a twelve month high of $55.13. The firm's 50 day moving average price is $36.36 and its 200-day moving average price is $41.14. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The stock has a market cap of $17.64 billion, a PE ratio of 65.11 and a beta of 0.79.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.18. The firm 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 firm's quarterly revenue was up 41.4% on a year-over-year basis. During the same period last year, the company earned $0.75 EPS. On average, analysts expect that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid 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 1.01%. This is an increase from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio (DPR) is currently 58.62%.

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.