TFG Asset Management GP Ltd Trims Stock Holdings in Teck Resources Limited (NYSE:TECK)

TFG Asset Management GP Ltd trimmed its holdings in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 75.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,368 shares of the basic materials company's stock after selling 19,119 shares during the quarter. Teck Resources accounts for about 0.1% of TFG Asset Management GP Ltd's portfolio, making the stock its 29th largest position. TFG Asset Management GP Ltd's holdings in Teck Resources were worth $258,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Teck Resources in the 4th quarter valued at $470,101,000. Swedbank AB bought a new stake in shares of Teck Resources in the 4th quarter valued at $103,878,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Teck Resources in the 4th quarter valued at $65,197,000. AMF Tjanstepension AB boosted 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 valued at $244,252,000 after purchasing an additional 1,467,516 shares during the last quarter. Finally, FMR LLC boosted its stake in Teck Resources by 29.7% during the fourth quarter. FMR LLC now owns 4,715,144 shares of the basic materials company's stock worth $191,133,000 after acquiring an additional 1,080,714 shares in the last quarter. 78.06% of the stock is owned by institutional investors.

Teck Resources Stock Performance

NYSE TECK traded down $0.81 during trading hours on Friday, reaching $36.87. 1,088,274 shares of the company were exchanged, compared to its average volume of 3,144,826. Teck Resources Limited has a 1 year low of $28.32 and a 1 year high of $54.13. The business's 50 day simple moving average is $35.16 and its 200-day simple moving average is $40.11. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $18.17 billion, a P/E ratio of 66.96 and a beta of 0.79.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings data 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 the consensus estimate of $2.19 billion. During the same quarter last year, the company posted $0.75 earnings per share. The firm's quarterly revenue was up 41.4% compared to the same quarter last year. On average, equities research analysts expect that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The business 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 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Monday, June 16th. This is an increase from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio (DPR) is 58.62%.

Wall Street Analyst Weigh In

TECK has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their target price on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Veritas raised shares of Teck Resources to a "hold" rating in a research note on Friday, April 11th. National Bank Financial raised shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Bank of America increased their target price on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Finally, UBS Group reissued a "neutral" rating on shares of Teck Resources in a research note on Tuesday, April 15th. Six investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.11.

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.