Intact Investment Management Inc. Sells 55,040 Shares of Teck Resources Ltd $TECK

Key Points

• Intact Investment Management cut its stake in Teck by 80%, selling 55,040 shares in Q4 and retaining 13,800 shares worth about $661,000.
• Other institutions were active buyers—UBS AM holds 465,861 shares (~$16.97M) and Marshall Wace and others notably increased positions, leaving institutional ownership around 78.06%.
• Analysts’ consensus is a "Hold" with a price target of $59.17; Teck trades near $56.71 after a recent quarterly EPS beat ($0.98 vs. $0.59) and the company announced a quarterly dividend of $0.125 ($0.50 annual, ~0.9% yield).

Intact Investment Management Inc. cut its stake in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 80.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,800 shares of the basic materials company's stock after selling 55,040 shares during the quarter. Intact Investment Management Inc.'s holdings in Teck Resources were worth $661,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TECK. AQR Capital Management LLC boosted its stake in Teck Resources by 11.1% during the first quarter. AQR Capital Management LLC now owns 34,705 shares of the basic materials company's stock worth $1,264,000 after acquiring an additional 3,458 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Teck Resources by 453.0% during the first quarter. Jones Financial Companies Lllp now owns 9,721 shares of the basic materials company's stock worth $354,000 after acquiring an additional 7,963 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Teck Resources by 1.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 465,861 shares of the basic materials company's stock worth $16,971,000 after acquiring an additional 8,146 shares in the last quarter. Marshall Wace LLP boosted its stake in Teck Resources by 189.3% during the second quarter. Marshall Wace LLP now owns 218,242 shares of the basic materials company's stock worth $8,813,000 after acquiring an additional 142,816 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Teck Resources by 4,602.9% during the second quarter. NewEdge Advisors LLC now owns 8,183 shares of the basic materials company's stock worth $330,000 after buying an additional 8,009 shares during the last quarter. 78.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Teck Resources from $45.00 to $48.00 and gave the company a "neutral" rating in a research note on Friday. TD Securities reaffirmed a "hold" rating on shares of Teck Resources in a research note on Friday, April 24th. Veritas raised shares of Teck Resources from a "strong sell" rating to a "strong-buy" rating in a research note on Thursday, January 15th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $62.00 price objective on shares of Teck Resources in a research note on Wednesday, April 15th. Finally, Citigroup raised shares of Teck Resources from a "neutral" rating to a "buy" rating in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, Teck Resources presently has an average rating of "Hold" and a consensus price target of $59.17.

Teck Resources Stock Down 2.1%

Teck Resources stock opened at $56.71 on Tuesday. Teck Resources Ltd has a 1-year low of $30.98 and a 1-year high of $63.26. The firm has a market capitalization of $27.33 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 4.36 and a beta of 0.86. The firm's fifty day moving average price is $54.53 and its two-hundred day moving average price is $50.01. The company has a current ratio of 2.83, a quick ratio of 2.16 and a debt-to-equity ratio of 0.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.39. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.28 billion. Teck Resources had a net margin of 14.91% and a return on equity of 7.94%. The business's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $0.45 earnings per share. On average, equities research analysts predict that Teck Resources Ltd will post 2.61 earnings per share for the current fiscal year.

Teck Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.125 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.50 annualized dividend and a dividend yield of 0.9%. Teck Resources's dividend payout ratio is currently 13.55%.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company's operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.

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