Hartree Partners LP Sells 286,756 Shares of Teck Resources Limited (NYSE:TECK)

Hartree Partners LP cut its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 52.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 259,787 shares of the basic materials company’s stock after selling 286,756 shares during the quarter. Teck Resources accounts for 3.9% of Hartree Partners LP’s investment portfolio, making the stock its 7th biggest position. Hartree Partners LP’s holdings in Teck Resources were worth $10,529,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Teck Resources in the 4th quarter valued at about $470,101,000. Swedbank AB acquired a new position in shares of Teck Resources during the fourth quarter worth $103,878,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Teck Resources during the fourth quarter worth about $65,197,000. FMR LLC grew its stake in shares of Teck Resources by 72.8% in the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock worth $189,848,000 after purchasing an additional 1,531,563 shares during the last quarter. Finally, AMF Tjanstepension AB raised its position in shares of Teck Resources by 32.2% during the fourth 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. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Performance

NYSE TECK opened at $37.43 on Friday. Teck Resources Limited has a twelve month low of $36.54 and a twelve month high of $55.13. The stock has a market cap of $18.52 billion, a PE ratio of 68.05 and a beta of 0.93. The stock has a fifty day simple moving average of $41.56 and a 200-day simple moving average of $44.64. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its 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. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.58 billion. Equities analysts anticipate 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 will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.0879 per share. This represents a $0.35 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources’s dividend payout ratio (DPR) is 61.82%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. cut their price target on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Bank of America raised their price objective 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. Finally, Raymond James decreased their price objective on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. Six 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.