Intact Investment Management Inc. Lowers Stock Position in Teck Resources Ltd $TECK

Intact Investment Management Inc. lowered its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 80.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,800 shares of the basic materials company’s stock after selling 55,040 shares during the period. Intact Investment Management Inc.’s holdings in Teck Resources were worth $661,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. PKO Investment Management Joint Stock Co raised its holdings in shares of Teck Resources by 35.9% in the fourth quarter. PKO Investment Management Joint Stock Co now owns 18,924 shares of the basic materials company’s stock valued at $908,000 after purchasing an additional 5,000 shares during the last quarter. Davis Selected Advisers raised its holdings in shares of Teck Resources by 9.0% in the fourth quarter. Davis Selected Advisers now owns 12,019,609 shares of the basic materials company’s stock valued at $575,620,000 after purchasing an additional 995,947 shares during the last quarter. Robertson Stephens Wealth Management LLC raised its holdings in shares of Teck Resources by 8.6% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 12,637 shares of the basic materials company’s stock valued at $605,000 after purchasing an additional 1,000 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of Teck Resources by 39.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 7,267 shares of the basic materials company’s stock valued at $348,000 after purchasing an additional 2,059 shares during the last quarter. Finally, AMG National Trust Bank purchased a new stake in shares of Teck Resources in the fourth quarter valued at about $234,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on TECK shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $62.00 price objective on shares of Teck Resources in a report on Wednesday, April 15th. Veritas upgraded shares of Teck Resources from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 15th. Raymond James Financial downgraded shares of Teck Resources from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 14th. Zacks Research downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Finally, Scotiabank restated a “sector perform” rating on shares of Teck Resources in a report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $59.17.

Teck Resources Stock Performance

NYSE TECK opened at $56.71 on Tuesday. Teck Resources Ltd has a 52-week low of $30.98 and a 52-week high of $63.26. The company has a 50-day simple moving average of $54.53 and a 200 day simple moving average of $50.01. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.16 and a current ratio of 2.83. The company has a market capitalization of $27.33 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 4.36 and a beta of 0.86.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.39. Teck Resources had a net margin of 14.91% and a return on equity of 7.94%. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.28 billion. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.45 earnings per share. On average, research analysts predict that Teck Resources Ltd will post 2.61 EPS for the current year.

Teck Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.125 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.50 annualized dividend and a dividend yield of 0.9%. Teck Resources’s dividend payout ratio (DPR) is presently 13.55%.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.