Teck Resources Limited (NYSE:TECK) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. lessened its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 61.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 248,686 shares of the basic materials company’s stock after selling 398,980 shares during the quarter. Intact Investment Management Inc.’s holdings in Teck Resources were worth $10,512,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Wealthsource Partners LLC grew its holdings in Teck Resources by 4.0% during the 3rd quarter. Wealthsource Partners LLC now owns 7,747 shares of the basic materials company’s stock valued at $334,000 after buying an additional 300 shares during the last quarter. Shell Asset Management Co. boosted its holdings in shares of Teck Resources by 2.9% during the third quarter. Shell Asset Management Co. now owns 13,649 shares of the basic materials company’s stock worth $590,000 after purchasing an additional 386 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Teck Resources by 17.9% during the third quarter. Allworth Financial LP now owns 2,558 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 388 shares during the last quarter. Cigna Investments Inc. New boosted its holdings in shares of Teck Resources by 4.6% during the fourth quarter. Cigna Investments Inc. New now owns 8,800 shares of the basic materials company’s stock worth $374,000 after purchasing an additional 391 shares during the last quarter. Finally, FDx Advisors Inc. boosted its holdings in shares of Teck Resources by 1.7% during the third quarter. FDx Advisors Inc. now owns 24,223 shares of the basic materials company’s stock worth $1,044,000 after purchasing an additional 396 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analyst Ratings Changes

TECK has been the topic of several research reports. Benchmark increased their target price on Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. increased their target price on Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. UBS Group initiated coverage on Teck Resources in a research report on Tuesday, January 16th. They issued a “buy” rating on the stock. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $55.00 target price on shares of Teck Resources in a research report on Thursday, April 11th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Teck Resources presently has an average rating of “Moderate Buy” and an average target price of $62.80.

Teck Resources Stock Up 1.7 %

Shares of Teck Resources stock traded up $0.84 during trading hours on Friday, hitting $50.38. 4,965,983 shares of the company’s stock traded hands, compared to its average volume of 4,763,129. The stock has a 50 day simple moving average of $43.94 and a 200-day simple moving average of $40.41. The company has a quick ratio of 0.60, a current ratio of 1.10 and a debt-to-equity ratio of 0.21. The company has a market cap of $25.72 billion, a PE ratio of 22.29, a PEG ratio of 8.34 and a beta of 1.15. Teck Resources Limited has a twelve month low of $34.38 and a twelve month high of $50.93.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.01. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.11 billion. Teck Resources had a return on equity of 7.70% and a net margin of 10.59%. Equities research analysts anticipate that Teck Resources Limited will post 2.87 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $0.0925 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.37 dividend on an annualized basis and a yield of 0.73%. Teck Resources’s dividend payout ratio (DPR) is 16.37%.

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.