Hartree Partners LP Has $10.53 Million Holdings in Teck Resources Limited (NYSE:TECK)

Hartree Partners LP lowered its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 52.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 259,787 shares of the basic materials company’s stock after selling 286,756 shares during the period. Teck Resources comprises about 3.9% of Hartree Partners LP’s holdings, making the stock its 7th largest holding. Hartree Partners LP owned approximately 0.05% of Teck Resources worth $10,529,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Teck Resources by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company’s stock valued at $783,153,000 after buying an additional 58,985 shares during the last quarter. Amundi increased its position in Teck Resources by 5.6% in the fourth quarter. Amundi now owns 14,949,233 shares of the basic materials company’s stock worth $619,765,000 after buying an additional 791,725 shares in the last quarter. Norges Bank bought a new position in shares of Teck Resources in the fourth quarter worth approximately $470,101,000. Principal Financial Group Inc. raised its holdings in Teck Resources by 21.7% during the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock valued at $388,507,000 after acquiring an additional 1,326,241 shares during the period. Finally, CIBC Asset Management Inc grew its stake in Teck Resources by 2.0% during the fourth quarter. CIBC Asset Management Inc now owns 6,623,228 shares of the basic materials company’s stock valued at $269,956,000 after acquiring an additional 127,348 shares in the last quarter. 78.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

TECK has been the subject of several recent analyst reports. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. lowered 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. Raymond James decreased their price objective on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. Finally, Bank of America increased their target price on shares of Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Teck Resources has a consensus rating of “Moderate Buy” and an average target price of $65.22.

Teck Resources Stock Performance

Shares of NYSE TECK opened at $37.43 on Friday. Teck Resources Limited has a 1 year low of $36.54 and a 1 year high of $55.13. The firm has a market cap of $18.52 billion, a P/E ratio of 68.05 and a beta of 0.93. The stock has a fifty day moving average price of $41.56 and a two-hundred day moving average price of $44.64. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.26 by $0.07. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Research analysts forecast that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.0879 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Friday, March 14th. Teck Resources’s dividend payout ratio (DPR) is 61.82%.

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.