Teck Resources Limited (NYSE:TECK) Shares Sold by Blue Square Asset Management LLC

Blue Square Asset Management LLC lessened its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 83.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,570 shares of the basic materials company’s stock after selling 27,756 shares during the quarter. Blue Square Asset Management LLC’s holdings in Teck Resources were worth $255,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. FIL Ltd boosted its holdings in Teck Resources by 98.8% during the fourth quarter. FIL Ltd now owns 11,937,233 shares of the basic materials company’s stock worth $504,588,000 after buying an additional 5,933,226 shares in the last quarter. Norges Bank bought a new stake in Teck Resources during the fourth quarter worth approximately $172,740,000. Principal Financial Group Inc. boosted its holdings in Teck Resources by 115.4% during the first quarter. Principal Financial Group Inc. now owns 5,687,670 shares of the basic materials company’s stock worth $260,584,000 after buying an additional 3,047,570 shares in the last quarter. Boston Partners boosted its holdings in Teck Resources by 28.8% during the fourth quarter. Boston Partners now owns 10,881,781 shares of the basic materials company’s stock worth $484,995,000 after buying an additional 2,432,378 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in Teck Resources by 45.7% in the 4th quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock worth $280,491,000 after purchasing an additional 2,080,295 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TECK shares. JPMorgan Chase & Co. raised their price objective on shares of Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Morgan Stanley lifted their target price on shares of Teck Resources from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, June 21st. Finally, Benchmark lifted their target price on shares of Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.80.

Teck Resources Stock Performance

Shares of NYSE:TECK traded down $0.16 on Thursday, hitting $49.51. 4,378,832 shares of the company were exchanged, compared to its average volume of 3,595,084. The company’s 50 day moving average price is $49.91 and its two-hundred day moving average price is $44.92. Teck Resources Limited has a one year low of $34.38 and a one year high of $55.13. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.49. The firm has a market capitalization of $25.29 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 10.87 and a beta of 1.05.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.31). Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. The company had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.99 billion. Research analysts expect that Teck Resources Limited will post 2.17 earnings per share for the current year.

Teck Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.625 per share. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. This represents a $2.50 annualized dividend and a dividend yield of 5.05%. Teck Resources’s payout ratio is 15.93%.

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.