Foundation Resource Management Inc. trimmed its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 6.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,138,390 shares of the basic materials company’s stock after selling 74,819 shares during the quarter. Teck Resources makes up about 5.5% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 5th largest holding. Foundation Resource Management Inc. owned approximately 0.20% of Teck Resources worth $26,388,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Riverhead Capital Management LLC lifted its holdings in Teck Resources by 246.7% in the 3rd quarter. Riverhead Capital Management LLC now owns 5,200 shares of the basic materials company’s stock worth $124,000 after purchasing an additional 3,700 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in Teck Resources by 130.8% in the 4th quarter. Quadrant Capital Group LLC now owns 5,457 shares of the basic materials company’s stock worth $113,000 after purchasing an additional 3,093 shares during the last quarter. We Are One Seven LLC acquired a new stake in Teck Resources in the 4th quarter worth approximately $131,000. Cerebellum GP LLC acquired a new stake in Teck Resources in the 4th quarter worth approximately $145,000. Finally, Acadian Asset Management LLC lifted its holdings in Teck Resources by 2,300.0% in the 4th quarter. Acadian Asset Management LLC now owns 7,200 shares of the basic materials company’s stock worth $155,000 after purchasing an additional 6,900 shares during the last quarter. Institutional investors and hedge funds own 56.23% of the company’s stock.

Several research firms recently weighed in on TECK. Raymond James restated a “buy” rating on shares of Teck Resources in a report on Thursday, April 4th. ValuEngine upgraded Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. MKM Partners set a $26.00 target price on Teck Resources and gave the stock a “buy” rating in a report on Thursday, April 4th. Zacks Investment Research lowered Teck Resources from a “buy” rating to a “hold” rating in a report on Saturday, January 26th. Finally, Bank of America set a $30.00 target price on Teck Resources and gave the stock a “buy” rating in a report on Thursday, April 4th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $29.14.

NYSE TECK traded down $0.35 during trading on Thursday, hitting $24.19. The company’s stock had a trading volume of 1,029,077 shares, compared to its average volume of 2,806,356. The company has a quick ratio of 1.29, a current ratio of 2.11 and a debt-to-equity ratio of 0.24. The company has a market cap of $13.75 billion, a P/E ratio of 7.70 and a beta of 1.27. Teck Resources Ltd has a 52 week low of $18.17 and a 52 week high of $30.11.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Wednesday, February 13th. The basic materials company reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.28 billion. Teck Resources had a return on equity of 10.81% and a net margin of 24.75%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.21 EPS. Sell-side analysts expect that Teck Resources Ltd will post 2.79 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.038 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, March 14th. Teck Resources’s dividend payout ratio is presently 4.78%.

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About Teck Resources

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.

Further Reading: Cost of equity and a company’s balance sheet

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

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