Ninety One SA PTY Ltd Sells 9,213 Shares of Teck Resources Ltd (NYSE:TECK)

Ninety One SA PTY Ltd lessened its holdings in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 13.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,212 shares of the basic materials company's stock after selling 9,213 shares during the period. Ninety One SA PTY Ltd's holdings in Teck Resources were worth $2,225,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its stake in shares of Teck Resources by 342.8% during the fourth quarter. Jones Financial Companies Lllp now owns 1,758 shares of the basic materials company's stock valued at $71,000 after purchasing an additional 1,361 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Teck Resources by 6.5% during the fourth 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 during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Teck Resources by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,415,536 shares of the basic materials company's stock valued at $57,363,000 after purchasing an additional 21,416 shares during the last quarter. Assetmark Inc. boosted its stake in Teck Resources by 6.6% in the fourth quarter. Assetmark Inc. now owns 19,474 shares of the basic materials company's stock valued at $789,000 after acquiring an additional 1,211 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Teck Resources in the fourth quarter valued at approximately $14,344,000. Institutional investors and hedge funds own 78.06% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on TECK. National Bankshares raised shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a research note on Thursday, April 24th. Desjardins began coverage on shares of Teck Resources in a research note on Friday, April 4th. They issued a "buy" rating on the stock. BMO Capital Markets started coverage on shares of Teck Resources in a research note on Wednesday, April 16th. They issued an "outperform" rating on the stock. UBS Group reiterated a "neutral" rating on shares of Teck Resources in a report on Tuesday, April 15th. Finally, Stifel Nicolaus started coverage on shares of Teck Resources in a report on Wednesday. They issued a "hold" rating on the stock. Seven investment 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 company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $65.25.

Teck Resources Stock Performance

Shares of TECK traded down $0.72 during midday trading on Wednesday, reaching $38.40. The stock had a trading volume of 4,334,437 shares, compared to its average volume of 3,252,031. The firm has a 50 day simple moving average of $37.78 and a 200-day simple moving average of $38.87. Teck Resources Ltd has a one year low of $28.32 and a one year high of $54.13. The firm has a market cap of $18.55 billion, a PE ratio of 66.21, a P/E/G ratio of 0.59 and a beta of 0.80. The company has a current ratio of 3.36, a quick ratio of 2.57 and a debt-to-equity ratio of 0.15.

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 the consensus estimate of $2.19 billion. Teck Resources had a net margin of 3.48% and a return on equity of 4.53%. Teck Resources's revenue was up 41.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.75 EPS. As a group, sell-side analysts anticipate that Teck Resources Ltd will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $0.0901 per share. The ex-dividend date was 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 0.94%. Teck Resources's dividend payout ratio is presently 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.