TFG Asset Management GP Ltd Sells 19,119 Shares of Teck Resources Limited (NYSE:TECK)

TFG Asset Management GP Ltd trimmed its position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 75.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,368 shares of the basic materials company's stock after selling 19,119 shares during the period. Teck Resources accounts for approximately 0.1% of TFG Asset Management GP Ltd's holdings, making the stock its 23rd biggest position. TFG Asset Management GP Ltd's holdings in Teck Resources were worth $258,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TECK. Norges Bank acquired a new position in shares of Teck Resources during the fourth quarter valued at $470,101,000. Swedbank AB acquired a new position in Teck Resources during the 4th quarter valued at about $103,878,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Teck Resources during the 4th quarter worth about $65,197,000. AMF Tjanstepension AB lifted its stake in shares of 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 acquiring an additional 1,467,516 shares during the period. Finally, FMR LLC boosted its holdings in shares of Teck Resources by 29.7% in the fourth 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 in the last quarter. Institutional investors own 78.06% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TECK shares. JPMorgan Chase & Co. cut their target price on Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. UBS Group reissued a "neutral" rating on shares of Teck Resources in a research note on Tuesday, April 15th. BMO Capital Markets started coverage on Teck Resources in a research note on Wednesday, April 16th. They set an "outperform" rating for the company. Veritas upgraded shares of Teck Resources to a "hold" rating in a research report on Friday, April 11th. Finally, National Bank Financial raised shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Teck Resources has a consensus rating of "Moderate Buy" and an average target price of $64.11.

Teck Resources Trading Down 0.5%

NYSE TECK traded down $0.17 on Thursday, hitting $35.47. 1,857,319 shares of the stock were exchanged, compared to its average volume of 3,144,746. The company has a market capitalization of $17.48 billion, a price-to-earnings ratio of 64.50 and a beta of 0.79. The company's 50-day moving average price is $35.79 and its two-hundred day moving average price is $40.59. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. Teck Resources Limited has a 52-week low of $28.32 and a 52-week high of $54.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $2.19 billion. During the same period in the prior year, the firm earned $0.75 earnings per share. The firm's revenue was up 41.4% compared to the same quarter last year. Research analysts predict that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

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

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.