Synergy Asset Management LLC Sells 10,698 Shares of Teck Resources Ltd (NYSE:TECK)

Synergy Asset Management LLC lowered its stake in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 63.3% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 6,194 shares of the basic materials company's stock after selling 10,698 shares during the period. Synergy Asset Management LLC's holdings in Teck Resources were worth $226,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TECK. Norges Bank purchased a new position in Teck Resources in the fourth quarter worth $470,101,000. Arrowstreet Capital Limited Partnership purchased a new position in Teck Resources in the fourth quarter valued at about $65,197,000. AMF Tjanstepension AB increased its stake in shares of Teck Resources by 32.2% during the 4th quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company's stock worth $244,252,000 after purchasing an additional 1,467,516 shares during the last quarter. FMR LLC increased its stake in shares of Teck Resources by 29.7% during the 4th quarter. FMR LLC now owns 4,715,144 shares of the basic materials company's stock worth $191,133,000 after purchasing an additional 1,080,714 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its stake in Teck Resources by 18.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 5,882,044 shares of the basic materials company's stock valued at $238,381,000 after purchasing an additional 932,058 shares during the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. National Bankshares raised shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a report on Thursday, April 24th. UBS Group reissued a "neutral" rating on shares of Teck Resources in a report on Tuesday, April 15th. Bank of America upped their price target 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 Bank Financial raised shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Teck Resources has an average rating of "Moderate Buy" and a consensus price target of $64.63.

Teck Resources Trading Up 0.9%

Shares of TECK stock traded up $0.33 on Tuesday, hitting $38.54. 3,043,722 shares of the company's stock traded hands, compared to its average volume of 3,162,488. The company's fifty day simple moving average is $36.45 and its 200 day simple moving average is $39.07. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.57 and a current ratio of 3.36. Teck Resources Ltd has a one year low of $28.32 and a one year high of $54.13. The stock has a market capitalization of $18.73 billion, a price-to-earnings ratio of 66.44, a P/E/G ratio of 0.56 and a beta of 0.79.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its earnings results on Thursday, April 24th. The basic materials company reported $0.42 EPS for the quarter, topping 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 company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the previous year, the firm earned $0.75 earnings per share. The firm's revenue for the quarter was up 41.4% on a year-over-year basis. Equities 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. 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 0.93%. This is an increase from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Monday, June 16th. Teck Resources's dividend payout ratio is 62.07%.

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.