Teck Resources Limited (NYSE:TECK) Stake Increased by Groupama Asset Managment

Groupama Asset Managment grew its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 6.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,319,624 shares of the basic materials company’s stock after purchasing an additional 144,889 shares during the period. Teck Resources makes up 2.4% of Groupama Asset Managment’s portfolio, making the stock its 13th biggest position. Groupama Asset Managment’s holdings in Teck Resources were worth $121,177,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Cetera Investment Advisers raised its holdings in shares of Teck Resources by 486.8% during the first quarter. Cetera Investment Advisers now owns 36,972 shares of the basic materials company’s stock worth $1,693,000 after acquiring an additional 30,671 shares in the last quarter. Cetera Advisors LLC bought a new position in Teck Resources during the first quarter valued at about $391,000. Sequoia Financial Advisors LLC raised its holdings in Teck Resources by 8.6% during the second quarter. Sequoia Financial Advisors LLC now owns 9,815 shares of the basic materials company’s stock valued at $470,000 after buying an additional 776 shares in the last quarter. Country Club Bank bought a new position in Teck Resources during the second quarter valued at about $1,747,000. Finally, Cigna Investments Inc. New raised its holdings in Teck Resources by 3.8% during the second quarter. Cigna Investments Inc. New now owns 8,762 shares of the basic materials company’s stock valued at $420,000 after buying an additional 317 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Down 1.0 %

NYSE TECK opened at $44.96 on Monday. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average is $48.21 and its two-hundred day moving average is $48.12. The company has a market capitalization of $23.03 billion, a price-to-earnings ratio of 68.12 and a beta of 1.03. Teck Resources Limited has a 1-year low of $36.50 and a 1-year high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.24. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.09 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The company’s quarterly revenue was down 20.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.57 earnings per share. Equities analysts forecast that Teck Resources Limited will post 1.82 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.0895 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Friday, December 13th. Teck Resources’s dividend payout ratio (DPR) is currently 56.06%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Scotiabank raised their target price on Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. lowered their price target on Teck Resources from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Citigroup raised Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.29.

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.