Gulf International Bank UK Ltd Sells 393 Shares of Teck Resources Limited (NYSE:TECK)

Gulf International Bank UK Ltd cut its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 30.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 897 shares of the basic materials company’s stock after selling 393 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Teck Resources were worth $36,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TECK. Swedbank AB bought a new position in Teck Resources during the fourth quarter worth $103,878,000. FMR LLC raised its holdings in Teck Resources by 72.8% during the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock worth $189,848,000 after buying an additional 1,531,563 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in Teck Resources during the third quarter worth $70,549,000. 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 worth $388,507,000 after buying an additional 1,326,241 shares during the last quarter. Finally, Holocene Advisors LP raised its holdings in Teck Resources by 152.7% during the third quarter. Holocene Advisors LP now owns 2,070,377 shares of the basic materials company’s stock worth $108,156,000 after buying an additional 1,251,203 shares during the last quarter. 78.06% of the stock is owned by institutional investors.

Teck Resources Price Performance

TECK opened at $40.33 on Monday. The firm has a market cap of $20.03 billion, a P/E ratio of 73.32 and a beta of 1.02. The firm has a 50-day moving average of $41.90 and a 200 day moving average of $45.56. 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 Limited has a fifty-two week low of $37.80 and a fifty-two week high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.07. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. On average, research analysts expect that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.0879 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 annualized dividend and a yield of 0.87%. Teck Resources’s payout ratio is currently 61.82%.

Analysts Set New Price Targets

Several research firms have weighed in on TECK. UBS Group downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Raymond James lowered their price objective on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their target price on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Finally, National Bank Financial downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.38.

About Teck Resources

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.