Desjardins Global Asset Management Inc. Has $197,000 Position in Teck Resources Limited (NYSE:TECK)

Desjardins Global Asset Management Inc. lowered its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 93.5% in the fourth quarter, Holdings Channel reports. The firm owned 4,638 shares of the basic materials company’s stock after selling 66,939 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Teck Resources were worth $197,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Mackenzie Financial Corp grew its holdings in Teck Resources by 45.7% during the fourth quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock valued at $280,491,000 after purchasing an additional 2,080,295 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Teck Resources by 11.2% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,323,288 shares of the basic materials company’s stock valued at $56,107,000 after buying an additional 133,019 shares during the period. Ingalls & Snyder LLC boosted its holdings in shares of Teck Resources by 0.5% in the fourth quarter. Ingalls & Snyder LLC now owns 609,985 shares of the basic materials company’s stock valued at $25,784,000 after buying an additional 3,075 shares during the period. Clarius Group LLC boosted its holdings in shares of Teck Resources by 16.0% in the fourth quarter. Clarius Group LLC now owns 10,286 shares of the basic materials company’s stock valued at $435,000 after buying an additional 1,416 shares during the period. Finally, Cerity Partners LLC acquired a new position in shares of Teck Resources in the fourth quarter valued at approximately $297,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Performance

NYSE TECK opened at $47.73 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.60 and a debt-to-equity ratio of 0.21. The firm’s fifty day moving average price is $42.79 and its two-hundred day moving average price is $40.12. Teck Resources Limited has a 1 year low of $34.38 and a 1 year high of $50.46. The firm has a market capitalization of $24.37 billion, a P/E ratio of 13.92, a price-to-earnings-growth ratio of 6.64 and a beta of 1.15.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.01. Teck Resources had a net margin of 16.21% and a return on equity of 9.67%. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.11 billion. As a group, research analysts anticipate that Teck Resources Limited will post 3.43 EPS for the current year.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders 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 of this dividend was Thursday, March 14th. Teck Resources’s dividend payout ratio (DPR) is currently 10.79%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TECK. Morgan Stanley reiterated an “overweight” rating and issued a $55.00 price target on shares of Teck Resources in a report on Thursday, April 11th. JPMorgan Chase & Co. upped their price target on shares of Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday. Benchmark increased their target price on shares of Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, UBS Group initiated coverage on shares of Teck Resources in a report on Tuesday, January 16th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Teck Resources has an average rating of “Moderate Buy” and a consensus target price of $64.36.

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.