Teck Resources Ltd (NYSE:TECK) Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd decreased its position in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 57.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 275,894 shares of the basic materials company's stock after selling 369,087 shares during the period. Ninety One UK Ltd owned 0.06% of Teck Resources worth $10,051,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TECK. Community Bank N.A. bought a new stake in Teck Resources in the fourth quarter worth $33,000. Golden State Wealth Management LLC boosted its stake in shares of Teck Resources by 7,560.0% during the first quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company's stock valued at $42,000 after purchasing an additional 1,134 shares during the period. Ameriflex Group Inc. purchased a new stake in Teck Resources in the fourth quarter worth about $50,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in Teck Resources in the fourth quarter worth about $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 in the last quarter. Institutional investors own 78.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TECK. Desjardins began coverage on shares of Teck Resources in a report on Friday, April 4th. They set a "buy" rating on the stock. UBS Group restated a "neutral" rating on shares of Teck Resources in a report on Tuesday, April 15th. National Bankshares upgraded shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a report on Thursday, April 24th. BMO Capital Markets initiated coverage on shares of Teck Resources in a report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Finally, Stifel Canada upgraded shares of Teck Resources to a "hold" rating in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Teck Resources presently has a consensus rating of "Moderate Buy" and an average price target of $65.25.

Teck Resources Trading Up 1.0%

Shares of TECK traded up $0.39 during midday trading on Thursday, reaching $38.83. The company had a trading volume of 2,166,299 shares, compared to its average volume of 3,248,482. Teck Resources Ltd has a 1-year low of $28.32 and a 1-year high of $54.13. The stock has a market cap of $18.76 billion, a PE ratio of 66.96, a price-to-earnings-growth ratio of 0.59 and a beta of 0.80. The firm has a 50 day simple moving average of $37.78 and a 200-day simple moving average of $38.87. The company has a quick ratio of 2.57, a current ratio of 3.36 and a debt-to-equity ratio of 0.15.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates 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 business's revenue for the quarter was up 41.4% on a year-over-year basis. During the same period last year, the business earned $0.75 earnings per share. Research analysts forecast that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a $0.0901 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.36 dividend on an annualized basis and a yield of 0.93%. This is an increase from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's 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.