Teck Resources Limited (NYSE:TECK) Shares Sold by DGS Capital Management LLC

DGS Capital Management LLC trimmed its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 5.4% during the fourth quarter, Holdings Channel reports. The firm owned 8,117 shares of the basic materials company’s stock after selling 462 shares during the quarter. DGS Capital Management LLC’s holdings in Teck Resources were worth $343,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Teck Resources by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 15,973,504 shares of the basic materials company’s stock worth $688,298,000 after acquiring an additional 224,658 shares during the period. Boston Partners increased its holdings in shares of Teck Resources by 23.3% in the 3rd quarter. Boston Partners now owns 8,449,403 shares of the basic materials company’s stock worth $384,364,000 after acquiring an additional 1,596,232 shares during the period. Norges Bank acquired a new stake in shares of Teck Resources in the 4th quarter worth about $291,283,000. Mackenzie Financial Corp increased its stake in Teck Resources by 45.7% during the 4th quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock valued at $280,491,000 after buying an additional 2,080,295 shares during the period. Finally, CIBC Asset Management Inc increased its stake in Teck Resources by 1.6% during the 3rd quarter. CIBC Asset Management Inc now owns 6,214,160 shares of the basic materials company’s stock valued at $268,287,000 after buying an additional 98,176 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TECK has been the topic of several research analyst reports. UBS Group initiated coverage on shares of Teck Resources in a research note on Tuesday, January 16th. They set a “buy” rating on the stock. Benchmark raised their price objective on shares of Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Morgan Stanley restated an “overweight” rating and set a $55.00 price objective on shares of Teck Resources in a research report on Thursday, April 11th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Teck Resources presently has a consensus rating of “Moderate Buy” and an average price target of $65.21.

Teck Resources Stock Performance

TECK stock opened at $47.14 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.60 and a current ratio of 1.10. The stock has a market cap of $24.06 billion, a P/E ratio of 13.74, a P/E/G ratio of 6.49 and a beta of 1.15. The firm has a 50 day simple moving average of $42.42 and a 200 day simple moving average of $40.02. Teck Resources Limited has a 52 week low of $34.38 and a 52 week high of $50.46.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $1.02 EPS for the quarter, topping the consensus estimate of $1.01 by $0.01. The business had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.11 billion. Teck Resources had a net margin of 16.21% and a return on equity of 9.67%. Research analysts anticipate that Teck Resources Limited will post 3.55 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.0925 per share. This represents a $0.37 annualized dividend and a yield of 0.78%. The ex-dividend date was Thursday, March 14th. Teck Resources’s payout ratio is presently 10.79%.

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.