Crestline Management LP Sells 161,300 Shares of Teck Resources Limited (NYSE:TECK)

Crestline Management LP cut its holdings in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 61.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,685 shares of the basic materials company's stock after selling 161,300 shares during the period. Crestline Management LP's holdings in Teck Resources were worth $4,162,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new position in shares of Teck Resources during the fourth quarter worth $25,000. FPC Investment Advisory Inc. purchased a new stake in Teck Resources in the 4th quarter worth $27,000. Global Trust Asset Management LLC bought a new position in shares of Teck Resources during the 4th quarter valued at about $27,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Teck Resources during the third quarter valued at about $40,000. Finally, Community Bank N.A. bought a new stake in shares of Teck Resources in the fourth quarter worth about $33,000. 78.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TECK has been the subject of a number of research reports. UBS Group reissued a "neutral" rating on shares of Teck Resources in a research note on Tuesday, April 15th. Veritas raised shares of Teck Resources to a "hold" rating in a report on Friday, April 11th. Raymond James reduced their price target on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their price objective on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Finally, Bank of America boosted their target price on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Teck Resources has an average rating of "Moderate Buy" and an average price target of $64.11.

Teck Resources Trading Up 3.2 %

Teck Resources stock traded up $1.10 during mid-day trading on Friday, hitting $35.81. The company's stock had a trading volume of 3,074,075 shares, compared to its average volume of 3,126,296. Teck Resources Limited has a one year low of $28.32 and a one year high of $55.13. The stock has a market cap of $17.64 billion, a PE ratio of 65.11 and a beta of 0.79. The company has a 50 day moving average of $36.36 and a 200-day moving average of $41.19. 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 posted its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.24 by $0.18. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $2.19 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The firm's revenue was up 41.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 EPS. On average, research 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 payout ratio is currently 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.