State of Tennessee Treasury Department decreased its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 3.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 362,842 shares of the basic materials company’s stock after selling 14,542 shares during the period. State of Tennessee Treasury Department owned approximately 0.07% of Teck Resources worth $2,743,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Morgan Stanley grew its position in Teck Resources by 25.4% during the 1st quarter. Morgan Stanley now owns 3,740,861 shares of the basic materials company’s stock worth $28,281,000 after acquiring an additional 757,390 shares during the last quarter. 1832 Asset Management L.P. grew its position in Teck Resources by 47.6% during the 1st quarter. 1832 Asset Management L.P. now owns 2,509,485 shares of the basic materials company’s stock worth $17,567,000 after acquiring an additional 809,755 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Teck Resources by 62.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 3,707,427 shares of the basic materials company’s stock worth $27,793,000 after acquiring an additional 1,421,116 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in Teck Resources during the 1st quarter worth $2,088,000. Finally, Advisor Group Holdings Inc. bought a new stake in Teck Resources during the 1st quarter worth $83,000. Institutional investors own 44.77% of the company’s stock.

TECK stock opened at $9.95 on Tuesday. The stock’s 50 day simple moving average is $9.99 and its 200 day simple moving average is $11.37. Teck Resources Ltd has a fifty-two week low of $5.60 and a fifty-two week high of $23.30. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.63 and a current ratio of 1.35. The company has a market cap of $5.17 billion, a P/E ratio of -11.57, a price-to-earnings-growth ratio of 4.02 and a beta of 1.52.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. Teck Resources had a positive return on equity of 5.14% and a negative net margin of 5.40%. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the business earned $0.99 EPS. Equities analysts predict that Teck Resources Ltd will post 0.54 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.036 per share. This represents a $0.14 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Friday, June 12th. Teck Resources’s dividend payout ratio (DPR) is currently 6.76%.

A number of equities research analysts recently weighed in on the company. Benchmark began coverage on Teck Resources in a research report on Monday, March 2nd. They set a “buy” rating and a $14.00 price objective on the stock. ValuEngine upgraded Teck Resources from a “strong sell” rating to a “sell” rating in a research report on Friday, May 1st. TD Securities reduced their price target on Teck Resources from $20.00 to $17.50 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. TheStreet lowered Teck Resources from a “c-” rating to a “d” rating in a research report on Wednesday, April 22nd. Finally, Morgan Stanley upped their price target on Teck Resources from $10.00 to $11.70 and gave the company an “overweight” rating in a research report on Tuesday, June 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. Teck Resources presently has an average rating of “Hold” and an average target price of $19.40.

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.

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

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