Spark Investment Management LLC Reduces Position in Teck Resources (TECK)

Spark Investment Management LLC cut its stake in Teck Resources (NYSE:TECK) (TSE:TECK) by 31.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,000 shares of the basic materials company’s stock after selling 87,000 shares during the period. Spark Investment Management LLC’s holdings in Teck Resources were worth $4,940,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TECK. SG Americas Securities LLC raised its holdings in shares of Teck Resources by 27.0% during the 4th quarter. SG Americas Securities LLC now owns 195,765 shares of the basic materials company’s stock worth $5,123,000 after buying an additional 41,652 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Teck Resources in the 4th quarter valued at about $8,327,000. Lourd Capital LLC bought a new stake in shares of Teck Resources in the 4th quarter valued at about $1,195,000. Regent Investment Management LLC bought a new stake in shares of Teck Resources in the 4th quarter valued at about $215,000. Finally, Cigna Investments Inc. New bought a new stake in shares of Teck Resources in the 4th quarter valued at about $204,000. 56.09% of the stock is owned by hedge funds and other institutional investors.

Shares of TECK opened at $27.52 on Friday. Teck Resources has a 1-year low of $14.56 and a 1-year high of $30.80. The company has a quick ratio of 1.38, a current ratio of 2.14 and a debt-to-equity ratio of 0.31. The firm has a market cap of $15.48 billion, a price-to-earnings ratio of 8.02, a P/E/G ratio of 0.73 and a beta of 1.52.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Tuesday, April 24th. The basic materials company reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.04). Teck Resources had a return on equity of 13.66% and a net margin of 22.03%. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.17 billion. During the same period in the prior year, the company posted $1.16 EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis. sell-side analysts expect that Teck Resources will post 3.6 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be given a dividend of $0.039 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Thursday, June 14th. Teck Resources’s dividend payout ratio is 4.66%.

Several brokerages recently commented on TECK. ValuEngine upgraded Teck Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, May 9th. Seaport Global Securities started coverage on Teck Resources in a research note on Friday, March 2nd. They issued a “hold” rating for the company. Bank of America lowered Teck Resources to a “hold” rating in a report on Tuesday, February 20th. They noted that the move was a valuation call. Zacks Investment Research lowered Teck Resources from a “buy” rating to a “hold” rating in a report on Tuesday, February 6th. Finally, Goldman Sachs Group started coverage on Teck Resources in a report on Tuesday, March 20th. They set a “neutral” rating and a $31.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Teck Resources currently has an average rating of “Buy” and a consensus price target of $31.05.

Teck Resources Company Profile

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Americas, the Asia Pacific, and Europe. It operates through five segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate. The company's principal products comprise steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.

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

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