Addenda Capital Inc. Sells 268,245 Shares of Teck Resources Limited (NYSE:TECK)

Addenda Capital Inc. lessened its stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 55.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 214,265 shares of the basic materials company's stock after selling 268,245 shares during the period. Addenda Capital Inc.'s holdings in Teck Resources were worth $7,806,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Parallel Advisors LLC grew its position in Teck Resources by 49.3% in the 1st quarter. Parallel Advisors LLC now owns 3,457 shares of the basic materials company's stock worth $126,000 after purchasing an additional 1,141 shares during the period. GAMMA Investing LLC grew its position in Teck Resources by 13,171.4% in the 1st quarter. GAMMA Investing LLC now owns 3,716 shares of the basic materials company's stock worth $135,000 after purchasing an additional 3,688 shares during the period. PKO Investment Management Joint Stock Co bought a new stake in Teck Resources in the 4th quarter worth approximately $500,000. Employees Retirement System of Texas bought a new stake in Teck Resources in the 4th quarter worth approximately $230,000. Finally, Ameriflex Group Inc. bought a new stake in Teck Resources in the 4th quarter worth approximately $50,000. Institutional investors own 78.06% of the company's stock.

Teck Resources Price Performance

Shares of TECK traded up $0.10 during trading hours on Tuesday, reaching $37.06. 2,406,040 shares of the stock traded hands, compared to its average volume of 3,160,755. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. Teck Resources Limited has a 52-week low of $28.32 and a 52-week high of $54.13. The company's 50-day moving average price is $34.93 and its two-hundred day moving average price is $39.89. The company has a market cap of $18.26 billion, a P/E ratio of 67.37 and a beta of 0.79.

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

Teck Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.0901 dividend. The ex-dividend date is Monday, June 16th. This is an increase from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.97%. Teck Resources's payout ratio is 58.62%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TECK. JPMorgan Chase & Co. dropped their price target on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. BMO Capital Markets began coverage on shares of Teck Resources in a research note on Wednesday, April 16th. They set an "outperform" rating on the stock. National Bank Financial upgraded shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. National Bankshares upgraded shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a research note on Thursday, April 24th. Finally, UBS Group reiterated a "neutral" rating on shares of Teck Resources in a research note on Tuesday, April 15th. Six 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 company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.