Edmond DE Rothschild Holding S.A. Sells 790 Shares of Teck Resources Limited (NYSE:TECK)

Edmond DE Rothschild Holding S.A. reduced its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 22.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,784 shares of the basic materials company’s stock after selling 790 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Teck Resources were worth $113,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TECK. Norges Bank acquired a new position in Teck Resources during the fourth quarter worth $470,101,000. Swedbank AB bought a new stake in shares of Teck Resources during the fourth quarter worth about $103,878,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Teck Resources in the 4th quarter worth about $65,197,000. AMF Tjanstepension AB lifted its position in Teck Resources by 32.2% in the 4th quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company’s stock valued at $244,252,000 after acquiring an additional 1,467,516 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in Teck Resources in the 3rd quarter valued at about $70,549,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Price Performance

TECK opened at $37.67 on Thursday. The firm has a market cap of $18.64 billion, a P/E ratio of 68.49 and a beta of 0.93. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. Teck Resources Limited has a fifty-two week low of $35.14 and a fifty-two week high of $55.13. The firm has a 50-day moving average of $41.17 and a 200 day moving average of $44.46.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.58 billion. On average, research analysts expect that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.0879 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.35 annualized dividend and a dividend yield of 0.93%. Teck Resources’s payout ratio is presently 61.82%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price objective on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Raymond James cut their price objective on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. Finally, Bank of America upped their target price on shares of Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.22.

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.