Nikko Asset Management Americas Inc. Sells 5,292 Shares of Teck Resources Limited (NYSE:TECK)

Nikko Asset Management Americas Inc. decreased its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 9.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 53,081 shares of the basic materials company’s stock after selling 5,292 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Teck Resources were worth $2,151,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Synergy Asset Management LLC boosted its stake in shares of Teck Resources by 77.7% in the 4th quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company’s stock valued at $685,000 after purchasing an additional 7,387 shares during the last quarter. Forest Avenue Capital Management LP lifted its holdings in Teck Resources by 3.7% in the third quarter. Forest Avenue Capital Management LP now owns 720,920 shares of the basic materials company’s stock valued at $37,661,000 after buying an additional 25,430 shares during the period. Public Employees Retirement System of Ohio bought a new position in Teck Resources in the third quarter valued at approximately $1,937,000. Intech Investment Management LLC grew its holdings in Teck Resources by 20.9% during the 3rd quarter. Intech Investment Management LLC now owns 98,145 shares of the basic materials company’s stock worth $5,132,000 after acquiring an additional 16,981 shares during the period. Finally, Paloma Partners Management Co bought a new stake in shares of Teck Resources during the 3rd quarter valued at $20,896,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Price Performance

Shares of TECK opened at $42.77 on Tuesday. The stock has a 50 day simple moving average of $41.73 and a 200 day simple moving average of $44.90. Teck Resources Limited has a 52-week low of $36.54 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. The firm has a market capitalization of $21.24 billion, a PE ratio of 77.76 and a beta of 0.93.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.58 billion. Sell-side analysts predict that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently declared 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. This represents a $0.35 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Friday, March 14th. Teck Resources’s dividend payout ratio is 61.82%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Bank of America increased their target price on Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Raymond James decreased their target price 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. Finally, National Bank Financial downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.22.

Teck Resources Company 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.