Teck Resources Limited (NYSE:TECK) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund cut its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 49.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 13,526 shares of the basic materials company’s stock after selling 13,356 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Teck Resources were worth $707,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of TECK. Headlands Technologies LLC purchased a new stake in Teck Resources during the 2nd quarter worth $38,000. Eastern Bank acquired a new position in shares of Teck Resources in the third quarter worth about $39,000. Bruce G. Allen Investments LLC boosted its holdings in Teck Resources by 77.4% in the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 383 shares during the last quarter. Blue Trust Inc. grew its stake in Teck Resources by 583.1% during the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 898 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Teck Resources by 69.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 409 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Wall Street Analyst Weigh In

TECK has been the topic of several recent analyst reports. Citigroup raised shares of Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. cut their target price on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. UBS Group downgraded Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft cut Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research note on Friday, October 25th. Finally, StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.29.

Teck Resources Stock Performance

Shares of TECK stock opened at $46.12 on Tuesday. The business has a 50 day simple moving average of $48.71 and a 200 day simple moving average of $48.34. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The firm has a market capitalization of $23.63 billion, a price-to-earnings ratio of 69.88 and a beta of 1.04. Teck Resources Limited has a 12-month low of $36.50 and a 12-month high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 EPS 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 analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $0.57 earnings per share. On average, equities research analysts anticipate that Teck Resources Limited will post 1.82 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.0895 per share. The ex-dividend date is Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.78%. Teck Resources’s dividend payout ratio is presently 56.06%.

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.