Foundation Resource Management Inc. Has $31.84 Million Stake in Teck Resources Limited (NYSE:TECK)

Foundation Resource Management Inc. trimmed its holdings in shares of Teck Resources Limited (NYSE:TECKGet Rating) (TSE:TECK) by 2.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,041,419 shares of the basic materials company’s stock after selling 23,476 shares during the quarter. Teck Resources accounts for approximately 5.7% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 5th largest holding. Foundation Resource Management Inc.’s holdings in Teck Resources were worth $31,836,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Atlas Capital Advisors LLC lifted its position in shares of Teck Resources by 4.5% during the first quarter. Atlas Capital Advisors LLC now owns 6,777 shares of the basic materials company’s stock worth $274,000 after purchasing an additional 289 shares during the last quarter. Wetherby Asset Management Inc. lifted its position in shares of Teck Resources by 1.0% during the first quarter. Wetherby Asset Management Inc. now owns 33,971 shares of the basic materials company’s stock worth $1,372,000 after purchasing an additional 323 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Teck Resources by 4.4% during the first quarter. PNC Financial Services Group Inc. now owns 8,067 shares of the basic materials company’s stock worth $327,000 after purchasing an additional 341 shares during the last quarter. RBA Wealth Management LLC lifted its position in shares of Teck Resources by 0.3% during the second quarter. RBA Wealth Management LLC now owns 132,789 shares of the basic materials company’s stock worth $4,059,000 after purchasing an additional 387 shares during the last quarter. Finally, Advisory Services Network LLC lifted its position in shares of Teck Resources by 2.3% during the first quarter. Advisory Services Network LLC now owns 17,629 shares of the basic materials company’s stock worth $712,000 after purchasing an additional 391 shares during the last quarter. 55.01% of the stock is currently owned by institutional investors.

Teck Resources Stock Down 6.7 %

Shares of TECK stock traded down $2.11 during trading hours on Friday, reaching $29.30. 179,775 shares of the company’s stock were exchanged, compared to its average volume of 3,799,397. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.25. Teck Resources Limited has a 1 year low of $23.88 and a 1 year high of $45.90. The stock has a market cap of $15.29 billion, a PE ratio of 3.90, a PEG ratio of 1.02 and a beta of 1.09. The stock’s fifty day moving average price is $31.66 and its two-hundred day moving average price is $36.00.

Teck Resources (NYSE:TECKGet Rating) (TSE:TECK) last released its earnings results on Wednesday, July 27th. The basic materials company reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $1.24. Teck Resources had a return on equity of 23.73% and a net margin of 28.90%. The firm had revenue of $5.79 billion during the quarter, compared to the consensus estimate of $5.59 billion. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company’s revenue was up 126.2% compared to the same quarter last year. Research analysts predict that Teck Resources Limited will post 6.87 EPS for the current year.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be issued a dividend of $0.097 per share. This represents a $0.39 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Wednesday, September 14th. Teck Resources’s dividend payout ratio (DPR) is 4.72%.

Analysts Set New Price Targets

TECK has been the subject of several recent research reports. Clarkson Capital restated a “neutral” rating on shares of Teck Resources in a report on Tuesday, June 14th. Canaccord Genuity Group upgraded Teck Resources from a “hold” rating to a “buy” rating in a report on Thursday, July 28th. National Bank Financial decreased their price objective on Teck Resources from C$55.00 to C$52.50 in a report on Thursday, July 28th. Scotiabank decreased their price objective on Teck Resources from C$57.00 to C$54.00 in a report on Thursday, July 28th. Finally, Raymond James lifted their price objective on Teck Resources from C$56.00 to C$57.00 in a report on Monday. One analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Teck Resources has an average rating of “Moderate Buy” and an average target price of $50.86.

Teck Resources Company Profile

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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 copper, zinc, steelmaking coal, and blended bitumen.

Further Reading

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

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