M&G Investment Management Ltd. Sells 8,559 Shares of Teck Resources Limited (NYSE:TECK)

M&G Investment Management Ltd. trimmed its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 305,364 shares of the basic materials company’s stock after selling 8,559 shares during the period. M&G Investment Management Ltd. owned 0.06% of Teck Resources worth $5,831,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of TECK. Parallel Advisors LLC lifted its stake in shares of Teck Resources by 201.8% in the first quarter. Parallel Advisors LLC now owns 2,306 shares of the basic materials company’s stock worth $44,000 after buying an additional 1,542 shares during the last quarter. Atlas Capital Advisors LLC acquired a new stake in shares of Teck Resources in the first quarter worth $126,000. The PNC Financial Services Group Inc. lifted its stake in shares of Teck Resources by 23.7% in the first quarter. The PNC Financial Services Group Inc. now owns 9,539 shares of the basic materials company’s stock worth $182,000 after buying an additional 1,827 shares during the last quarter. Lorne Steinberg Wealth Management Inc. acquired a new stake in shares of Teck Resources in the fourth quarter worth $189,000. Finally, HighTower Advisors LLC acquired a new stake in shares of Teck Resources in the first quarter worth $211,000. Institutional investors and hedge funds own 45.48% of the company’s stock.

Shares of TECK stock opened at $23.45 on Friday. The firm has a fifty day simple moving average of $22.92. The company has a current ratio of 1.16, a quick ratio of 0.59 and a debt-to-equity ratio of 0.30. Teck Resources Limited has a 52-week low of $9.56 and a 52-week high of $26.72. The firm has a market cap of $12.29 billion, a PE ratio of -68.97, a price-to-earnings-growth ratio of 0.55 and a beta of 1.28.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Wednesday, April 28th. The basic materials company reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.18. Teck Resources had a negative net margin of 2.55% and a positive return on equity of 3.82%. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the prior year, the firm earned $0.17 EPS. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, research analysts forecast that Teck Resources Limited will post 2.08 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Tuesday, June 15th will be issued a $0.0404 dividend. This is a positive change from Teck Resources’s previous quarterly dividend of $0.04. The ex-dividend date is Monday, June 14th. This represents a $0.16 annualized dividend and a dividend yield of 0.69%. Teck Resources’s dividend payout ratio is presently 14.10%.

Several equities analysts recently commented on TECK shares. CIBC upped their target price on shares of Teck Resources from C$33.00 to C$34.00 and gave the company a “neutral” rating in a research note on Tuesday, May 25th. BMO Capital Markets upped their target price on shares of Teck Resources from $27.00 to $31.00 and gave the company a “market perform” rating in a research note on Tuesday, March 30th. Morgan Stanley upped their target price on shares of Teck Resources from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, May 4th. Raymond James upped their target price on shares of Teck Resources from C$32.00 to C$35.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, B. Riley reiterated a “buy” rating on shares of Teck Resources in a research note on Tuesday, April 6th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $27.00.

Teck Resources Company Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, and Energy segments. 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 and molybdenum concentrates.

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

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