Voloridge Investment Management LLC Sells 450,133 Shares of Teck Resources Limited (NYSE:TECK)

Voloridge Investment Management LLC trimmed its holdings in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 57.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 331,160 shares of the basic materials company's stock after selling 450,133 shares during the period. Voloridge Investment Management LLC owned about 0.07% of Teck Resources worth $13,422,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Teck Resources during the 4th quarter valued at approximately $470,101,000. Swedbank AB purchased a new stake in shares of Teck Resources during the fourth quarter valued at $103,878,000. Arrowstreet Capital Limited Partnership purchased a new stake in Teck Resources in the 4th quarter worth about $65,197,000. AMF Tjanstepension AB increased its position in Teck Resources by 32.2% in 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. Finally, FMR LLC increased its holdings 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 valued at $191,133,000 after acquiring an additional 1,080,714 shares during the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TECK shares. National Bankshares raised Teck Resources from a "sector perform" rating to an "outperform" rating in a report on Thursday, April 24th. UBS Group restated a "neutral" rating on shares of Teck Resources in a research report on Tuesday, April 15th. BMO Capital Markets began coverage on Teck Resources in a report on Wednesday, April 16th. They issued an "outperform" rating for the company. JPMorgan Chase & Co. lowered their price target on Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Finally, Veritas upgraded Teck Resources to a "hold" rating in a report on Friday, April 11th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Teck Resources presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.11.

Teck Resources Stock Performance

Shares of TECK traded up $0.22 during mid-day trading on Thursday, reaching $37.62. The company's stock had a trading volume of 584,443 shares, compared to its average volume of 3,143,213. The business has a 50-day simple moving average of $35.24 and a two-hundred day simple moving average of $40.17. Teck Resources Limited has a 1-year low of $28.32 and a 1-year high of $54.13. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The stock has a market cap of $18.54 billion, a P/E ratio of 68.33 and a beta of 0.79.

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 the consensus estimate of $0.24 by $0.18. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter last year, the company posted $0.75 EPS. The company's revenue for the quarter was up 41.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The firm 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 $0.0901 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.96%. 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 payout ratio is currently 58.62%.

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.