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

Edmond DE Rothschild Holding S.A. decreased its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 22.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund 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 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. National Bank Financial cut Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Bank of America boosted their target price on shares of Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Raymond James cut their price target 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, JPMorgan Chase & Co. decreased their price objective on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $65.22.

Teck Resources Stock Up 2.6 %

Shares of NYSE:TECK opened at $37.67 on Thursday. The business’s 50-day moving average is $41.17 and its 200-day moving average is $44.46. Teck Resources Limited has a 1 year low of $35.14 and a 1 year high of $55.13. The company has a market capitalization of $18.64 billion, a price-to-earnings ratio of 68.49 and a beta of 0.93. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35.

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

Teck Resources Cuts Dividend

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

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.