Teck Resources Limited (NYSE:TECK) Shares Sold by Louisbourg Investments Inc.

Louisbourg Investments Inc. cut its stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 19.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of TECK. PNC Financial Services Group Inc. grew its position in shares of Teck Resources by 2.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the basic materials company's stock worth $471,000 after acquiring an additional 243 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Teck Resources by 2.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 9,809 shares of the basic materials company's stock valued at $398,000 after purchasing an additional 279 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Teck Resources by 6.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,844 shares of the basic materials company's stock valued at $196,000 after purchasing an additional 297 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Teck Resources by 2.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company's stock valued at $566,000 after purchasing an additional 302 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Teck Resources by 2.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 13,511 shares of the basic materials company's stock valued at $548,000 after purchasing an additional 335 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TECK shares. Desjardins started coverage on shares of Teck Resources in a research report on Friday, April 4th. They set a "buy" rating for the company. UBS Group restated a "neutral" rating on shares of Teck Resources in a research report on Tuesday, April 15th. National Bankshares upgraded shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. reduced their price objective on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Finally, Veritas raised shares of Teck Resources to a "hold" rating in a research note on Friday, April 11th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Teck Resources currently has an average rating of "Moderate Buy" and a consensus price target of $64.11.

Teck Resources Trading Up 1.3%

NYSE:TECK opened at $39.09 on Tuesday. The stock's 50 day moving average price is $35.86 and its 200 day moving average price is $39.34. Teck Resources Limited has a 52 week low of $28.32 and a 52 week high of $54.13. The company has a market capitalization of $19.13 billion, a P/E ratio of 71.08 and a beta of 0.79. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.18. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. The firm's revenue was up 41.4% on a year-over-year basis. On average, research analysts forecast that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.0901 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.36 dividend on an annualized basis and a yield of 0.92%. This is an increase from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio is currently 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.

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