Teck Resources Limited (NYSE:TECK) is Foundation Resource Management Inc.'s 4th Largest Position

Foundation Resource Management Inc. reduced its position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 4.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 948,721 shares of the basic materials company's stock after selling 42,472 shares during the quarter. Teck Resources makes up approximately 5.4% of Foundation Resource Management Inc.'s portfolio, making the stock its 4th biggest position. Foundation Resource Management Inc. owned 0.19% of Teck Resources worth $34,562,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new position in Teck Resources in the 4th quarter valued at about $25,000. FPC Investment Advisory Inc. acquired a new position in shares of Teck Resources during the fourth quarter worth about $27,000. Community Bank N.A. acquired a new position in shares of Teck Resources during the fourth quarter worth about $33,000. Ameriflex Group Inc. acquired a new position in shares of Teck Resources during the fourth quarter worth about $50,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Teck Resources during the fourth quarter worth about $55,000. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Stock Performance

NYSE TECK traded down $0.88 on Thursday, reaching $37.92. The stock had a trading volume of 5,198,326 shares, compared to its average volume of 3,158,800. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. Teck Resources Limited has a 12-month low of $28.32 and a 12-month high of $54.13. The business's 50-day moving average price is $35.31 and its 200 day moving average price is $39.60. The stock has a market cap of $18.55 billion, a P/E ratio of 68.95 and a beta of 0.79.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.18. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $2.19 billion. During the same quarter in the previous year, the business earned $0.75 earnings per share. The firm's revenue for the quarter was up 41.4% on a year-over-year basis. As a group, equities 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. Stockholders of record on Monday, June 16th will be paid a dividend of $0.0901 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Monday, June 16th. This is a boost from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio is 62.07%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TECK shares. Veritas raised Teck Resources to a "hold" rating in a research report on Friday, April 11th. Desjardins started coverage on Teck Resources in a research report on Friday, April 4th. They set a "buy" rating for the company. BMO Capital Markets began coverage on Teck Resources in a research report on Wednesday, April 16th. They set an "outperform" rating for the company. National Bankshares upgraded Teck Resources from a "sector perform" rating to an "outperform" rating in a research note on Thursday, April 24th. Finally, Bank of America boosted their target price on Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $64.11.

About Teck Resources

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.