Louisbourg Investments Inc. Sells 25,622 Shares of Teck Resources Ltd (NYSE:TECK)

Louisbourg Investments Inc. lessened its holdings in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 19.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 106,124 shares of the basic materials company's stock after selling 25,622 shares during the period. Louisbourg Investments Inc.'s holdings in Teck Resources were worth $3,870,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of TECK. FPC Investment Advisory Inc. bought a new stake in shares of Teck Resources in the 4th quarter valued at about $27,000. Community Bank N.A. acquired a new position in Teck Resources during the fourth quarter valued at approximately $33,000. Ameriflex Group Inc. acquired a new position in Teck Resources during the fourth quarter valued at approximately $50,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Teck Resources in the fourth quarter valued at approximately $55,000. Finally, Bruce G. Allen Investments LLC raised its holdings in 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 purchasing an additional 837 shares during the period. Institutional investors and hedge funds own 78.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. BMO Capital Markets initiated coverage on shares of Teck Resources in a research report on Wednesday, April 16th. They issued an "outperform" rating for the company. National Bank Financial raised Teck Resources from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. UBS Group restated a "neutral" rating on shares of Teck Resources in a report on Tuesday, April 15th. Desjardins started coverage on Teck Resources in a report on Friday, April 4th. They set a "buy" rating on the stock. Finally, National Bankshares upgraded Teck Resources from a "sector perform" rating to an "outperform" rating in a research report on Thursday, April 24th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Teck Resources has an average rating of "Moderate Buy" and a consensus price target of $64.11.

Teck Resources Stock Down 2.0%

Shares of TECK traded down $0.76 during mid-day trading on Friday, hitting $37.48. 2,109,854 shares of the company's stock were exchanged, compared to its average volume of 3,492,330. 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 Ltd has a 52 week low of $28.32 and a 52 week high of $54.13. The company has a market cap of $18.34 billion, a PE ratio of 64.61, a P/E/G ratio of 0.50 and a beta of 0.79. The company has a 50-day simple moving average of $36.19 and a 200 day simple moving average of $39.27.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced 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. The business had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $2.19 billion. Teck Resources had a net margin of 3.48% and a return on equity of 4.53%. The firm's revenue was up 41.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 earnings per share. On average, research analysts forecast that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently declared 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. The ex-dividend date is Monday, June 16th. This is a boost from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.36 annualized dividend and a yield of 0.96%. Teck Resources's payout ratio is 62.07%.

Teck Resources Company 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.