TFG Asset Management GP Ltd trimmed its stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 75.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,368 shares of the basic materials company's stock after selling 19,119 shares during the quarter. Teck Resources makes up 0.1% of TFG Asset Management GP Ltd's holdings, making the stock its 29th biggest position. TFG Asset Management GP Ltd's holdings in Teck Resources were worth $258,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Stonebridge Financial Group LLC bought a new stake in shares of Teck Resources in the fourth quarter valued at approximately $25,000. FPC Investment Advisory Inc. bought a new stake in shares of Teck Resources in the fourth quarter valued at approximately $27,000. Community Bank N.A. bought a new stake in shares of Teck Resources in the fourth quarter valued at approximately $33,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Teck Resources in the fourth quarter valued at approximately $55,000. Finally, Altshuler Shaham Ltd bought a new stake in shares of Teck Resources in the fourth quarter valued at approximately $70,000. Institutional investors own 78.06% of the company's stock.
Analysts Set New Price Targets
Several analysts have recently issued reports on TECK shares. National Bank Financial raised shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. BMO Capital Markets assumed coverage on shares of Teck Resources in a report on Wednesday, April 16th. They set an "outperform" rating on the stock. Desjardins assumed coverage on shares of Teck Resources in a report on Friday, April 4th. They set a "buy" rating on the stock. UBS Group reaffirmed a "neutral" rating on shares of Teck Resources in a report on Tuesday, April 15th. Finally, Veritas raised shares of Teck Resources to a "hold" rating in a report on Friday, April 11th. 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 stock. According to MarketBeat, Teck Resources currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.11.
Check Out Our Latest Research Report on Teck Resources
Teck Resources Price Performance
TECK stock traded down $0.44 during midday trading on Wednesday, reaching $37.42. The company had a trading volume of 2,558,563 shares, compared to its average volume of 3,153,281. 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 1 year low of $28.32 and a 1 year high of $54.13. The company has a market capitalization of $18.44 billion, a P/E ratio of 68.04 and a beta of 0.79. The firm has a 50-day moving average price of $35.24 and a 200-day moving average price of $40.17.
Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $2.19 billion. During the same quarter in the prior year, the company earned $0.75 EPS. The firm's revenue was up 41.4% on a year-over-year basis. On average, 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 is a boost from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.96%. Teck Resources's dividend payout ratio is 58.62%.
Teck Resources Profile
(
Free Report)
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.
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