Thornburg Investment Management Inc. lowered its position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 20.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 375,615 shares of the basic materials company's stock after selling 96,018 shares during the period. Thornburg Investment Management Inc. owned 0.08% of Teck Resources worth $15,223,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Park Avenue Securities LLC grew its holdings in shares of Teck Resources by 5.7% during the fourth quarter. Park Avenue Securities LLC now owns 8,960 shares of the basic materials company's stock worth $363,000 after purchasing an additional 486 shares during the last quarter. Atomi Financial Group Inc. acquired a new position in shares of Teck Resources during the 4th quarter worth about $1,350,000. Bourgeon Capital Management LLC raised its position in Teck Resources by 7.7% during the fourth quarter. Bourgeon Capital Management LLC now owns 7,000 shares of the basic materials company's stock worth $284,000 after acquiring an additional 500 shares in the last quarter. Global Trust Asset Management LLC bought a new position in Teck Resources during the fourth quarter worth $27,000. Finally, Exchange Traded Concepts LLC increased its stake in shares of Teck Resources by 7.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company's stock worth $198,000 after purchasing an additional 327 shares during the period. Institutional investors and hedge funds own 78.06% of the company's stock.
Teck Resources Stock Down 0.9%
Shares of Teck Resources stock traded down $0.33 during trading on Wednesday, reaching $35.64. The company had a trading volume of 1,853,660 shares, compared to its average volume of 3,149,895. The firm's fifty day moving average is $35.93 and its 200-day moving average is $40.63. Teck Resources Limited has a fifty-two week low of $28.32 and a fifty-two week high of $54.13. The company has a market cap of $17.56 billion, a price-to-earnings ratio of 64.79 and a beta of 0.79. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92.
Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.18. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $2.19 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The company's quarterly revenue was up 41.4% compared to the same quarter last year. During the same period last year, the company earned $0.75 earnings per share. On average, analysts anticipate that Teck Resources Limited will post 1.53 EPS for the current year.
Teck Resources Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.0901 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.01%. 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 is 58.62%.
Analyst Ratings Changes
Several brokerages recently commented on TECK. National Bankshares raised shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a research note on Thursday, April 24th. National Bank Financial upgraded shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. Raymond James lowered their target price on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, January 22nd. Bank of America boosted their target price on shares of Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. 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 data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.11.
View Our Latest Stock Report on TECK
About Teck Resources
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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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