Foundation Resource Management Inc. Sells 10,771 Shares of Teck Resources Limited (NYSE:TECK)

Foundation Resource Management Inc. reduced its stake in shares of Teck Resources Limited (NYSE:TECKFree Report) (TSE:TECK) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,046,041 shares of the basic materials company’s stock after selling 10,771 shares during the quarter. Teck Resources comprises approximately 7.0% of Foundation Resource Management Inc.’s portfolio, making the stock its largest holding. Foundation Resource Management Inc. owned about 0.20% of Teck Resources worth $44,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of TECK. Money Concepts Capital Corp acquired a new position in Teck Resources in the fourth quarter valued at $29,000. Baystate Wealth Management LLC purchased a new stake in shares of Teck Resources in the third quarter valued at about $31,000. JFS Wealth Advisors LLC boosted its holdings in shares of Teck Resources by 249.0% in the third quarter. JFS Wealth Advisors LLC now owns 841 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 600 shares in the last quarter. Achmea Investment Management B.V. purchased a new stake in shares of Teck Resources in the first quarter valued at about $37,000. Finally, Belpointe Asset Management LLC boosted its holdings in shares of Teck Resources by 263.4% in the first quarter. Belpointe Asset Management LLC now owns 1,381 shares of the basic materials company’s stock valued at $50,000 after acquiring an additional 1,001 shares in the last quarter. 59.23% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Stock Performance

Shares of TECK opened at $44.40 on Tuesday. 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 stock has a market cap of $22.63 billion, a P/E ratio of 12.94, a PEG ratio of 5.42 and a beta of 1.13. The company has a 50-day moving average of $39.41 and a two-hundred day moving average of $39.37. Teck Resources Limited has a 12-month low of $33.87 and a 12-month high of $49.34.

Teck Resources (NYSE:TECKGet Free Report) (TSE:TECK) last announced its earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. The company had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.11 billion. Teck Resources had a net margin of 16.21% and a return on equity of 9.67%. As a group, research analysts predict that Teck Resources Limited will post 4 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 15th will be given a $0.0925 dividend. This represents a $0.37 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Thursday, March 14th. Teck Resources’s dividend payout ratio is presently 10.79%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Morgan Stanley lowered their target price on shares of Teck Resources from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, February 26th. StockNews.com began coverage on shares of Teck Resources in a report on Monday, December 11th. They issued a “hold” rating on the stock. UBS Group began coverage on shares of Teck Resources in a report on Tuesday, January 16th. They set a “buy” rating on the stock. Finally, Benchmark reissued a “buy” rating and set a $50.00 price objective on shares of Teck Resources in a report on Monday, January 22nd. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Teck Resources has a consensus rating of “Moderate Buy” and a consensus target price of $63.96.

Check Out Our Latest Research Report on Teck Resources

Teck Resources Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Teck Resources (NYSE:TECK)

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