Intact Investment Management Inc. Sells 36,814 Shares of Teck Resources Ltd (NYSE:TECK)

Intact Investment Management Inc. reduced its holdings in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 49.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,840 shares of the basic materials company's stock after selling 36,814 shares during the quarter. Intact Investment Management Inc.'s holdings in Teck Resources were worth $1,379,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew 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 acquiring an additional 58,985 shares in the last quarter. Amundi grew its stake in shares of Teck Resources by 5.6% during the 4th 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 in the last quarter. Norges Bank acquired a new stake in shares of Teck Resources in the 4th quarter valued at approximately $470,101,000. Invesco Ltd. boosted its holdings in shares of Teck Resources by 4.7% in the 4th quarter. Invesco Ltd. now owns 7,711,727 shares of the basic materials company's stock valued at $312,556,000 after buying an additional 347,235 shares during the last quarter. Finally, AMF Tjanstepension AB boosted its holdings in shares of Teck Resources by 32.2% in the 4th quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company's stock valued at $244,252,000 after buying an additional 1,467,516 shares during the last quarter. 78.06% of the stock is owned by institutional investors.

Teck Resources Trading Down 2.0%

Shares of Teck Resources stock opened at $37.48 on Friday. The business has a fifty day simple moving average of $36.27 and a two-hundred day simple moving average of $39.16. Teck Resources Ltd has a 1 year low of $28.32 and a 1 year high of $54.13. The company has a market capitalization of $18.34 billion, a price-to-earnings ratio of 64.61, a P/E/G ratio of 0.49 and a beta of 0.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.36 and a quick ratio of 2.57.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.18. Teck Resources had a return on equity of 4.53% and a net margin of 3.48%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the firm posted $0.75 EPS. The company's quarterly revenue was up 41.4% on a year-over-year basis. Research analysts forecast that Teck Resources Ltd will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.0901 per share. This is a boost from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.36 annualized dividend and a yield of 0.96%. Teck Resources's dividend payout ratio (DPR) is presently 62.07%.

Analyst Ratings Changes

Several research firms have recently commented on TECK. BMO Capital Markets began coverage on Teck Resources in a report on Wednesday, April 16th. They issued an "outperform" rating for the company. JPMorgan Chase & Co. cut 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. Bank of America increased their price objective on Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a report on Monday, March 10th. UBS Group reissued a "neutral" rating on shares of Teck Resources in a report on Tuesday, April 15th. Finally, Desjardins began coverage on Teck Resources in a report on Friday, April 4th. They issued a "buy" rating for the company. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $64.63.

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.

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