Short Interest in Teck Resources Limited (NYSE:TECK) Expands By 35.2%

Teck Resources Limited (NYSE:TECKGet Rating) (TSE:TECK) saw a significant increase in short interest in April. As of April 30th, there was short interest totalling 5,920,000 shares, an increase of 35.2% from the April 15th total of 4,380,000 shares. Based on an average daily trading volume, of 6,150,000 shares, the short-interest ratio is currently 1.0 days. Currently, 1.1% of the shares of the stock are sold short.

Several large investors have recently modified their holdings of TECK. Soroban Capital Partners LP acquired a new stake in Teck Resources in the 4th quarter valued at $318,590,000. Norges Bank acquired a new stake in Teck Resources in the 4th quarter valued at $127,516,000. ANTIPODES PARTNERS Ltd increased its stake in Teck Resources by 330.9% in the 1st quarter. ANTIPODES PARTNERS Ltd now owns 3,962,472 shares of the basic materials company’s stock valued at $160,044,000 after buying an additional 3,042,942 shares during the last quarter. Egerton Capital UK LLP acquired a new stake in Teck Resources in the 1st quarter valued at $111,170,000. Finally, Natixis acquired a new stake in Teck Resources in the 3rd quarter valued at $67,513,000. Institutional investors and hedge funds own 55.81% of the company’s stock.

Several research firms have recently weighed in on TECK. CIBC raised their price objective on shares of Teck Resources from C$50.00 to C$52.00 in a report on Monday, May 2nd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Teck Resources from $50.00 to $48.00 in a research note on Thursday, April 28th. Canaccord Genuity Group cut shares of Teck Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, April 19th. Barclays increased their price target on shares of Teck Resources from C$40.00 to C$55.00 in a research note on Thursday, April 21st. Finally, Morgan Stanley raised their price objective on shares of Teck Resources from $33.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, March 23rd. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $52.33.

Shares of NYSE:TECK opened at $37.16 on Monday. Teck Resources has a 12 month low of $19.32 and a 12 month high of $44.93. The company has a quick ratio of 1.34, a current ratio of 1.92 and a debt-to-equity ratio of 0.29. The company’s fifty day simple moving average is $39.76 and its 200 day simple moving average is $33.92. The firm has a market cap of $19.76 billion, a price-to-earnings ratio of 6.16, a PEG ratio of 0.12 and a beta of 1.13.

Teck Resources (NYSE:TECKGet Rating) (TSE:TECK) last issued its quarterly earnings data on Wednesday, April 27th. The basic materials company reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.10. Teck Resources had a net margin of 25.82% and a return on equity of 18.76%. The business had revenue of $5.03 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same period last year, the business posted $0.48 earnings per share. The firm’s quarterly revenue was up 97.6% on a year-over-year basis. Research analysts expect that Teck Resources will post 8.14 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Wednesday, June 15th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.08%. This is a positive change from Teck Resources’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, June 14th. Teck Resources’s dividend payout ratio (DPR) is presently 6.47%.

Teck Resources Company Profile (Get Rating)

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, Energy, and Corporate segments. The company's principal products include steelmaking coal; copper, gold, blended bitumen, lead, silver, molybdenum, zinc, and zinc concentrates; chemicals, fertilizers, and other metals.

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