Regal Partners Ltd Has $108.49 Million Stake in Teck Resources Limited (NYSE:TECK)

Regal Partners Ltd trimmed its position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,676,860 shares of the basic materials company's stock after selling 52,120 shares during the quarter. Teck Resources accounts for 11.0% of Regal Partners Ltd's holdings, making the stock its largest holding. Regal Partners Ltd owned 0.54% of Teck Resources worth $108,493,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in shares of Teck Resources by 21.7% during the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock valued at $388,507,000 after purchasing an additional 1,326,241 shares during the last quarter. State Street Corp acquired a new stake in Teck Resources in the third quarter valued at approximately $2,500,000. SkyView Investment Advisors LLC grew its stake in shares of Teck Resources by 4.7% during the third quarter. SkyView Investment Advisors LLC now owns 14,958 shares of the basic materials company's stock worth $781,000 after buying an additional 675 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Teck Resources during the third quarter worth $40,000. Finally, Franklin Resources Inc. lifted its stake in shares of Teck Resources by 11.4% in the 3rd quarter. Franklin Resources Inc. now owns 324,870 shares of the basic materials company's stock valued at $16,724,000 after acquiring an additional 33,235 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TECK has been the topic of a number of research reports. JPMorgan Chase & Co. reduced their price objective on Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Veritas raised Teck Resources to a "hold" rating in a research note on Friday, April 11th. National Bank Financial upgraded shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. National Bankshares raised shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a report on Thursday, April 24th. Finally, BMO Capital Markets began coverage on shares of Teck Resources in a research note on Wednesday, April 16th. They set an "outperform" rating for the company. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $64.11.

Teck Resources Stock Up 3.8 %

Shares of Teck Resources stock traded up $1.31 during trading on Friday, reaching $35.51. 3,019,497 shares of the company traded hands, compared to its average volume of 3,134,443. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The firm has a market capitalization of $17.50 billion, a PE ratio of 64.56 and a beta of 0.79. The company has a 50 day moving average price of $36.88 and a 200-day moving average price of $41.67. Teck Resources Limited has a 1-year low of $28.32 and a 1-year high of $55.13.

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 for the quarter, beating the consensus estimate of $0.24 by $0.18. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $2.19 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The business's quarterly revenue was up 41.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.75 earnings per share. As a group, equities research analysts expect that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $0.0901 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.36 annualized dividend and a yield of 1.01%. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio is presently 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.