Northwest & Ethical Investments L.P. Sells 1,395 Shares of Teck Resources Limited (NYSE:TECK)

Northwest & Ethical Investments L.P. lessened its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,850 shares of the basic materials company’s stock after selling 1,395 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Teck Resources were worth $5,111,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TECK. AMF Tjanstepension AB lifted its position in Teck Resources by 846.6% in the second quarter. AMF Tjanstepension AB now owns 4,383,031 shares of the basic materials company’s stock valued at $210,034,000 after purchasing an additional 3,919,984 shares during the last quarter. TD Asset Management Inc raised its holdings in Teck Resources by 49.0% during the 2nd quarter. TD Asset Management Inc now owns 4,950,816 shares of the basic materials company’s stock valued at $237,202,000 after buying an additional 1,629,149 shares during the last quarter. FMR LLC boosted its position in Teck Resources by 72.8% during the 3rd quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock valued at $189,848,000 after buying an additional 1,531,563 shares during the period. Principal Financial Group Inc. boosted its position in Teck Resources by 21.7% during the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock valued at $388,507,000 after buying an additional 1,326,241 shares during the period. Finally, National Bank of Canada FI grew its holdings in Teck Resources by 48.4% in the 2nd quarter. National Bank of Canada FI now owns 3,934,663 shares of the basic materials company’s stock worth $188,111,000 after acquiring an additional 1,283,876 shares during the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Stock Performance

Shares of TECK stock opened at $46.24 on Friday. The company has a market capitalization of $23.69 billion, a price-to-earnings ratio of 70.06 and a beta of 1.04. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The company’s 50-day moving average is $48.87 and its 200 day moving average is $48.48. Teck Resources Limited has a one year low of $35.60 and a one year high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the previous year, the business earned $0.57 earnings per share. The company’s revenue was down 20.6% on a year-over-year basis. Sell-side analysts expect that Teck Resources Limited will post 1.82 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.0895 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Friday, December 13th. Teck Resources’s payout ratio is presently 56.06%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a report on Friday, October 25th. Citigroup raised Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Finally, Scotiabank upped their price objective on shares of Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $65.29.

Teck Resources Company 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.