Teck Resources Ltd (NYSE:TECK) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. cut its stake in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 49.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 have also bought and sold shares of TECK. FPC Investment Advisory Inc. purchased a new position in shares of Teck Resources during the 4th quarter valued at approximately $27,000. Community Bank N.A. acquired a new stake in Teck Resources during the fourth quarter valued at $33,000. Ameriflex Group Inc. purchased a new position in Teck Resources in the fourth quarter valued at $50,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Teck Resources in the fourth quarter worth about $55,000. Finally, Bruce G. Allen Investments LLC raised its position in shares of Teck Resources by 104.8% in the first quarter. Bruce G. Allen Investments LLC now owns 1,636 shares of the basic materials company's stock worth $60,000 after acquiring an additional 837 shares during the period. Hedge funds and other institutional investors own 78.06% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Bank of America raised their target price on Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a research report on Monday, March 10th. National Bankshares raised shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a research note on Thursday, April 24th. UBS Group restated a "neutral" rating on shares of Teck Resources in a research report on Tuesday, April 15th. National Bank Financial upgraded Teck Resources from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. Finally, Desjardins assumed coverage on Teck Resources in a research note on Friday, April 4th. They set a "buy" rating for the company. Six equities 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 company's stock. According to MarketBeat.com, Teck Resources presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.63.

Teck Resources Trading Down 0.8%

NYSE TECK traded down $0.31 on Wednesday, reaching $38.24. 2,648,971 shares of the company were exchanged, compared to its average volume of 3,167,650. The company has a current ratio of 3.36, a quick ratio of 2.57 and a debt-to-equity ratio of 0.15. The business's fifty day moving average price is $36.55 and its 200 day moving average price is $39.06. The stock has a market capitalization of $18.59 billion, a P/E ratio of 65.93, a price-to-earnings-growth ratio of 0.57 and a beta of 0.79. Teck Resources Ltd has a fifty-two week low of $28.32 and a fifty-two week high of $54.13.

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

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $0.0901 dividend. This represents a $0.36 annualized dividend and a yield of 0.94%. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Monday, June 16th. Teck Resources's payout ratio is presently 62.07%.

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.