Teck Resources Ltd $TECK is Foundation Resource Management Inc.'s 4th Largest Position

Key Points

• Foundation Resource Management trimmed its Teck stake by 3.3% to 920,951 shares, leaving TECK as its 4th-largest holding at roughly 5.9% of the firm's portfolio and valued at about $44.1 million.
• Teck beat quarterly EPS estimates with $0.98 (consensus $0.59) and reported revenue of $2.23 billion, up 9.8% year-over-year, while analysts project about $1.53 in earnings per share for the current fiscal year.
• TECK has a market cap of $26.35 billion, a 52‑week range of $30.96–$62.41, a $0.50 annualized dividend (≈0.9% yield), a consensus "Moderate Buy" target of $57, and roughly 78.06% institutional ownership.

Foundation Resource Management Inc. lessened its holdings in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 920,951 shares of the basic materials company's stock after selling 30,968 shares during the period. Teck Resources comprises approximately 5.9% of Foundation Resource Management Inc.'s portfolio, making the stock its 4th biggest position. Foundation Resource Management Inc. owned about 0.19% of Teck Resources worth $44,104,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Flagship Harbor Advisors LLC acquired a new stake in shares of Teck Resources in the fourth quarter worth $103,000. Rathbones Group PLC acquired a new stake in shares of Teck Resources in the fourth quarter worth $229,000. Myriad Asset Management US LP acquired a new stake in shares of Teck Resources in the fourth quarter worth $466,000. Signaturefd LLC boosted its position in shares of Teck Resources by 3.6% in the fourth quarter. Signaturefd LLC now owns 19,458 shares of the basic materials company's stock worth $932,000 after buying an additional 682 shares during the period. Finally, Savvy Advisors Inc. acquired a new stake in shares of Teck Resources in the fourth quarter worth $350,000. Institutional investors and hedge funds own 78.06% of the company's stock.

Teck Resources Price Performance

NYSE TECK opened at $54.68 on Friday. Teck Resources Ltd has a fifty-two week low of $30.96 and a fifty-two week high of $62.41. The stock's 50-day moving average is $54.22 and its two-hundred day moving average is $48.22. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.54 and a quick ratio of 1.91. The firm has a market cap of $26.35 billion, a P/E ratio of 27.07, a price-to-earnings-growth ratio of 2.88 and a beta of 0.85.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its earnings results on Thursday, February 19th. The basic materials company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.39. Teck Resources had a return on equity of 5.90% and a net margin of 12.98%.The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period last year, the company earned $0.45 earnings per share. The business's revenue was up 9.8% compared to the same quarter last year. On average, analysts anticipate that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Teck Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, March 13th. Teck Resources's dividend payout ratio (DPR) is 18.32%.

Analyst Upgrades and Downgrades

TECK has been the subject of several recent analyst reports. Raymond James Financial cut Teck Resources from an "outperform" rating to a "market perform" rating in a research report on Wednesday, January 14th. Benchmark raised their target price on Teck Resources from $48.00 to $67.00 and gave the stock a "buy" rating in a research report on Monday, February 23rd. UBS Group reaffirmed a "buy" rating on shares of Teck Resources in a research report on Tuesday, January 27th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Teck Resources in a research report on Wednesday, January 21st. Finally, TD Securities reaffirmed a "hold" rating on shares of Teck Resources in a research report on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $57.00.

About Teck Resources

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company's operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.

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