Intact Investment Management Inc. Has $3.03 Million Stake in Teck Resources Limited (NYSE:TECK)

Intact Investment Management Inc. trimmed its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 67.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 74,654 shares of the basic materials company’s stock after selling 152,738 shares during the period. Intact Investment Management Inc.’s holdings in Teck Resources were worth $3,026,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new position in shares of Teck Resources during the fourth quarter worth about $25,000. Global Trust Asset Management LLC acquired a new position in shares of Teck Resources during the fourth quarter worth about $27,000. FPC Investment Advisory Inc. acquired a new position in shares of Teck Resources during the fourth quarter worth about $27,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Teck Resources during the third quarter worth about $40,000. Finally, Jones Financial Companies Lllp boosted its position in shares of Teck Resources by 342.8% during the fourth quarter. Jones Financial Companies Lllp now owns 1,758 shares of the basic materials company’s stock worth $71,000 after buying an additional 1,361 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Price Performance

NYSE:TECK opened at $42.16 on Friday. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average price is $41.68 and its two-hundred day moving average price is $45.02. The firm has a market capitalization of $20.94 billion, a price-to-earnings ratio of 76.66 and a beta of 0.93. Teck Resources Limited has a 12-month low of $36.54 and a 12-month high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.07. The firm had revenue of $1.99 billion for 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 anticipate that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.0879 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 annualized dividend and a yield of 0.83%. Teck Resources’s dividend payout ratio is 61.82%.

Analyst Upgrades and Downgrades

TECK has been the subject of several recent research reports. Bank of America upped 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. Raymond James reduced their price objective on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. National Bank Financial cut Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. reduced their price target 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. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Teck Resources has a consensus rating of “Moderate Buy” and a consensus price target of $65.22.

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.