Caisse DE Depot ET Placement DU Quebec Sells 668,966 Shares of Teck Resources Ltd $TECK

Caisse DE Depot ET Placement DU Quebec cut its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 82.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,636 shares of the basic materials company’s stock after selling 668,966 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Teck Resources were worth $5,304,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its position in Teck Resources by 5.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 10,354 shares of the basic materials company’s stock valued at $377,000 after acquiring an additional 545 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Teck Resources by 7,560.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company’s stock valued at $42,000 after buying an additional 1,134 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Teck Resources by 20.6% during the 4th quarter. Cetera Investment Advisers now owns 57,793 shares of the basic materials company’s stock valued at $2,342,000 after buying an additional 9,887 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in shares of Teck Resources by 22.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 12,141 shares of the basic materials company’s stock valued at $442,000 after buying an additional 2,240 shares during the period. Finally, GAMMA Investing LLC lifted its position in Teck Resources by 13,171.4% during the first quarter. GAMMA Investing LLC now owns 3,716 shares of the basic materials company’s stock valued at $135,000 after purchasing an additional 3,688 shares in the last quarter. 78.06% of the stock is owned by institutional investors.

Teck Resources Stock Up 2.4%

Shares of NYSE TECK opened at $33.72 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.47 and a quick ratio of 2.45. The company has a market cap of $16.29 billion, a P/E ratio of 88.74, a PEG ratio of 0.51 and a beta of 0.81. Teck Resources Ltd has a 1 year low of $28.32 and a 1 year high of $54.13. The firm has a 50-day simple moving average of $35.77 and a two-hundred day simple moving average of $36.97.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.07. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $2.25 billion. Teck Resources had a net margin of 2.51% and a return on equity of 3.91%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.79 earnings per share. Research analysts anticipate that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.0918 per share. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. This represents a $0.37 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, September 15th. Teck Resources’s payout ratio is presently 94.74%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TECK. Wall Street Zen upgraded Teck Resources from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Benchmark cut their price objective on Teck Resources from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, July 28th. Cibc World Mkts lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 25th. Royal Bank Of Canada cut their price objective on Teck Resources from $82.00 to $67.00 and set an “outperform” rating for the company in a research report on Friday, July 25th. Finally, B. Riley lowered Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, Teck Resources currently has a consensus rating of “Hold” and an average target price of $60.11.

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.