Teck Resources Limited (NYSE:TECK) Shares Sold by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC decreased its position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 93.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 44,643 shares of the basic materials company's stock after selling 638,660 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Teck Resources were worth $1,809,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TECK. PNC Financial Services Group Inc. increased its holdings in Teck Resources by 2.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the basic materials company's stock valued at $471,000 after acquiring an additional 243 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Teck Resources by 2.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 9,809 shares of the basic materials company's stock valued at $398,000 after purchasing an additional 279 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Teck Resources by 6.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,844 shares of the basic materials company's stock worth $196,000 after purchasing an additional 297 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in Teck Resources by 2.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company's stock valued at $566,000 after buying an additional 302 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in Teck Resources by 7.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company's stock valued at $198,000 after buying an additional 327 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company's stock.

Analysts Set New Price Targets

TECK has been the topic of several recent research reports. Raymond James reduced their price objective on Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 22nd. National Bankshares upgraded shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a report on Thursday, April 24th. Veritas upgraded shares of Teck Resources to a "hold" rating in a research report on Friday, April 11th. UBS Group reissued a "neutral" rating on shares of Teck Resources in a research note on Tuesday, April 15th. Finally, Desjardins began coverage on Teck Resources in a research note on Friday, April 4th. They issued a "buy" rating for the company. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $64.11.

Teck Resources Price Performance

TECK opened at $34.87 on Tuesday. Teck Resources Limited has a twelve month low of $28.32 and a twelve month high of $55.13. The firm has a market cap of $17.18 billion, a price-to-earnings ratio of 63.40 and a beta of 0.79. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $36.74 and a 200 day simple moving average of $41.49.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its earnings results 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. The business 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 revenue for the quarter was up 41.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 earnings per share. Equities research analysts expect that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently announced 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 is a boost from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.36 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Monday, June 16th. Teck Resources's dividend payout ratio is 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.

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