Foundation Resource Management Inc. Has $34.56 Million Stock Holdings in Teck Resources Limited (NYSE:TECK)

Foundation Resource Management Inc. cut its holdings in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 4.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 948,721 shares of the basic materials company's stock after selling 42,472 shares during the quarter. Teck Resources accounts for 5.4% of Foundation Resource Management Inc.'s holdings, making the stock its 4th largest position. Foundation Resource Management Inc. owned 0.19% of Teck Resources worth $34,562,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its stake in Teck Resources by 2.1% in the fourth 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 holdings in shares of Teck Resources by 2.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 9,809 shares of the basic materials company's stock valued at $398,000 after purchasing an additional 279 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Teck Resources by 6.5% in the 4th 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 increased its stake in shares of Teck Resources by 2.2% in the 4th 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 last quarter. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Teck Resources by 2.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 13,511 shares of the basic materials company's stock worth $548,000 after buying an additional 335 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Stock Down 0.7%

Shares of TECK traded down $0.25 during trading hours on Wednesday, hitting $38.76. The stock had a trading volume of 1,530,950 shares, compared to its average volume of 3,143,923. The firm has a 50 day simple moving average of $35.14 and a 200-day simple moving average of $39.61. Teck Resources Limited has a 1-year low of $28.32 and a 1-year high of $54.13. 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 firm has a market capitalization of $18.96 billion, a P/E ratio of 70.31 and a beta of 0.79.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.18. The firm had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $2.19 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The company's revenue for the quarter 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. Sell-side analysts predict that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $0.0901 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.36 annualized dividend and a yield of 0.93%. This is an increase from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio (DPR) is presently 62.07%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TECK. National Bankshares raised Teck Resources from a "sector perform" rating to an "outperform" rating in a research note on Thursday, April 24th. Bank of America upped their price objective on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Veritas upgraded shares of Teck Resources to a "hold" rating in a research report on Friday, April 11th. UBS Group reiterated a "neutral" rating on shares of Teck Resources in a report on Tuesday, April 15th. Finally, National Bank Financial raised Teck Resources from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.