Teck Resources Limited (NYSE:TECK) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank lowered its position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 15.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 761,437 shares of the basic materials company's stock after selling 141,695 shares during the period. Toronto Dominion Bank owned approximately 0.15% of Teck Resources worth $30,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Synergy Asset Management LLC raised its stake in shares of Teck Resources by 77.7% during the fourth quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company's stock valued at $685,000 after acquiring an additional 7,387 shares in the last quarter. Blue Trust Inc. increased its holdings in Teck Resources by 31.5% during the 4th quarter. Blue Trust Inc. now owns 3,848 shares of the basic materials company's stock worth $156,000 after purchasing an additional 921 shares during the period. Pictet Asset Management Holding SA increased its holdings in Teck Resources by 102.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 309,987 shares of the basic materials company's stock worth $12,563,000 after purchasing an additional 156,980 shares during the period. Exchange Traded Concepts LLC raised its position in Teck Resources by 7.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company's stock valued at $198,000 after purchasing an additional 327 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of Teck Resources by 20.6% in the 4th quarter. Cetera Investment Advisers now owns 57,793 shares of the basic materials company's stock worth $2,342,000 after buying an additional 9,887 shares during the period. Hedge funds and other institutional investors own 78.06% of the company's stock.

Teck Resources Stock Down 0.5%

Shares of TECK traded down $0.17 during mid-day trading on Thursday, hitting $35.47. 1,980,652 shares of the company traded hands, compared to its average volume of 3,145,237. The company has a market capitalization of $17.48 billion, a PE ratio of 64.50 and a beta of 0.79. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average of $35.79 and a 200 day moving average of $40.59. Teck Resources Limited has a 1-year low of $28.32 and a 1-year high of $54.13.

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

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.0901 dividend. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date is Monday, June 16th. This represents a $0.36 dividend on an annualized basis and a yield of 1.02%. Teck Resources's dividend payout ratio (DPR) is 58.62%.

Analysts Set New Price Targets

TECK has been the topic of several research reports. BMO Capital Markets initiated coverage on Teck Resources in a research note on Wednesday, April 16th. They set an "outperform" rating on the stock. 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 report on Thursday, April 10th. Raymond James lowered their price target on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a research report on Wednesday, January 22nd. Desjardins began coverage on shares of 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 report on Thursday, April 24th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $64.11.

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.