Phoenix Financial Ltd. Sells 7,485 Shares of Teck Resources Limited (NYSE:TECK)

Phoenix Financial Ltd. decreased its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 940,996 shares of the basic materials company’s stock after selling 7,485 shares during the quarter. Phoenix Financial Ltd.’s holdings in Teck Resources were worth $38,218,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Teck Resources by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company’s stock valued at $783,153,000 after purchasing an additional 58,985 shares during the last quarter. Amundi grew its holdings in Teck Resources by 5.6% in the 4th quarter. Amundi now owns 14,949,233 shares of the basic materials company’s stock valued at $619,765,000 after buying an additional 791,725 shares during the last quarter. Norges Bank bought a new position in Teck Resources in the 4th quarter worth approximately $470,101,000. Invesco Ltd. lifted its holdings in shares of Teck Resources by 4.7% during the fourth quarter. Invesco Ltd. now owns 7,711,727 shares of the basic materials company’s stock worth $312,556,000 after buying an additional 347,235 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Teck Resources by 21.7% during the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock worth $388,507,000 after acquiring an additional 1,326,241 shares during the period. Institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Up 15.2 %

Shares of TECK opened at $33.47 on Thursday. The business’s fifty day moving average price is $39.69 and its two-hundred day moving average price is $43.67. The firm has a market capitalization of $16.56 billion, a price-to-earnings ratio of 60.86 and a beta of 0.81. Teck Resources Limited has a 52 week low of $28.32 and a 52 week high of $55.13. 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) (TSE:TECK) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. On average, analysts predict that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.0879 per share. This represents a $0.35 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, March 14th. Teck Resources’s payout ratio is 61.82%.

Analyst Upgrades and Downgrades

TECK has been the topic of several research analyst reports. Desjardins initiated coverage on shares of Teck Resources in a research report on Friday, April 4th. They issued a “buy” rating on the stock. Raymond James lowered their price target on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. Bank of America raised their price objective on Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. National Bankshares restated a “sector perform” rating on shares of Teck Resources in a research report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. reduced their target price on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.22.

Teck Resources Profile

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.