Swiss National Bank Decreases Position in Teck Resources Limited (NYSE:TECK)

Swiss National Bank lowered its holdings in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,498,279 shares of the basic materials company's stock after selling 28,100 shares during the period. Swiss National Bank owned about 0.29% of Teck Resources worth $63,450,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Baystate Wealth Management LLC bought a new stake in shares of Teck Resources during the 3rd quarter valued at $31,000. JFS Wealth Advisors LLC grew its position in Teck Resources by 249.0% during the third quarter. JFS Wealth Advisors LLC now owns 841 shares of the basic materials company's stock worth $36,000 after buying an additional 600 shares in the last quarter. Blue Trust Inc. grew its position in Teck Resources by 187.3% during the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the basic materials company's stock worth $64,000 after buying an additional 974 shares in the last quarter. Allworth Financial LP grew its position in Teck Resources by 17.9% during the third quarter. Allworth Financial LP now owns 2,558 shares of the basic materials company's stock worth $110,000 after buying an additional 388 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new position in shares of Teck Resources in the 4th quarter worth about $182,000. Hedge funds and other institutional investors own 78.06% of the company's stock.

Teck Resources Price Performance

NYSE:TECK traded up $0.59 on Monday, reaching $49.88. 3,016,288 shares of the company's stock traded hands, compared to its average volume of 4,039,543. The company has a quick ratio of 0.86, a current ratio of 1.49 and a debt-to-equity ratio of 0.20. The stock has a 50-day simple moving average of $45.01 and a 200-day simple moving average of $40.72. The firm has a market cap of $25.53 billion, a PE ratio of 21.81, a P/E/G ratio of 8.92 and a beta of 1.12. Teck Resources Limited has a 12 month low of $34.38 and a 12 month high of $51.65.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $1.02 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.01. The business had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $3.11 billion. Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. Equities research analysts forecast that Teck Resources Limited will post 2.67 earnings per share for the current year.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be issued a dividend of $0.0911 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.36 dividend on an annualized basis and a yield of 0.73%. Teck Resources's dividend payout ratio is presently 16.37%.

Analyst Ratings Changes

A number of research firms have recently issued reports on TECK. JPMorgan Chase & Co. upped their price objective on Teck Resources from $44.00 to $50.00 and gave the stock an "overweight" rating in a report on Wednesday, April 17th. Benchmark upped their price objective on Teck Resources from $50.00 to $52.00 and gave the stock a "buy" rating in a report on Monday, April 8th. UBS Group started coverage on Teck Resources in a report on Tuesday, January 16th. They issued a "buy" rating for the company. Finally, Morgan Stanley restated an "overweight" rating and set a $55.00 target price on shares of Teck Resources in a report on Thursday, April 11th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Teck Resources presently has a consensus rating of "Moderate Buy" and an average target price of $57.86.

Teck Resources Company Profile

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.