Teck Resources Limited (NYSE:TECK) Stock Position Lowered by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. lessened its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 93.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,638 shares of the basic materials company’s stock after selling 66,939 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Teck Resources were worth $197,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Mackenzie Financial Corp increased its stake in Teck Resources by 45.7% in the 4th quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock valued at $280,491,000 after buying an additional 2,080,295 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Teck Resources by 11.2% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,323,288 shares of the basic materials company’s stock valued at $56,107,000 after buying an additional 133,019 shares during the period. Ingalls & Snyder LLC increased its stake in Teck Resources by 0.5% in the 4th quarter. Ingalls & Snyder LLC now owns 609,985 shares of the basic materials company’s stock valued at $25,784,000 after buying an additional 3,075 shares during the period. Clarius Group LLC increased its stake in Teck Resources by 16.0% in the 4th quarter. Clarius Group LLC now owns 10,286 shares of the basic materials company’s stock valued at $435,000 after buying an additional 1,416 shares during the period. Finally, Cerity Partners LLC acquired a new position in Teck Resources in the 4th quarter valued at approximately $297,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Price Performance

NYSE TECK opened at $47.73 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.60 and a debt-to-equity ratio of 0.21. The company has a fifty day simple moving average of $42.79 and a 200 day simple moving average of $40.12. The company has a market cap of $24.37 billion, a P/E ratio of 13.92, a P/E/G ratio of 6.64 and a beta of 1.15. Teck Resources Limited has a 1 year low of $34.38 and a 1 year high of $50.46.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.01. Teck Resources had a net margin of 16.21% and a return on equity of 9.67%. The firm had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.11 billion. On average, sell-side analysts predict that Teck Resources Limited will post 3.43 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.0925 dividend. This represents a $0.37 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date was Thursday, March 14th. Teck Resources’s dividend payout ratio (DPR) is presently 10.79%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday. UBS Group assumed coverage on shares of Teck Resources in a research note on Tuesday, January 16th. They set a “buy” rating on the stock. Morgan Stanley restated an “overweight” rating and set a $55.00 price target on shares of Teck Resources in a research note on Thursday, April 11th. Finally, Benchmark increased their price target on shares of Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Teck Resources has an average rating of “Moderate Buy” and an average price target of $64.36.

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.