17,437 Shares in Teck Resources Limited (NYSE:TECK) Bought by Trexquant Investment LP

Trexquant Investment LP purchased a new position in Teck Resources Limited (NYSE:TECKFree Report) (TSE:TECK) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 17,437 shares of the basic materials company’s stock, valued at approximately $737,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TECK. Ninety One SA PTY Ltd lifted its position in Teck Resources by 45.1% during the fourth quarter. Ninety One SA PTY Ltd now owns 147,093 shares of the basic materials company’s stock valued at $6,236,000 after buying an additional 45,750 shares during the period. Mackenzie Financial Corp lifted its position in Teck Resources by 45.7% during the fourth quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock valued at $280,491,000 after buying an additional 2,080,295 shares during the period. AGF Management Ltd. lifted its position in Teck Resources by 13.4% during the fourth quarter. AGF Management Ltd. now owns 136,376 shares of the basic materials company’s stock valued at $5,785,000 after buying an additional 16,141 shares during the period. Douglas Lane & Associates LLC lifted its position in Teck Resources by 54.3% during the fourth quarter. Douglas Lane & Associates LLC now owns 663,366 shares of the basic materials company’s stock valued at $28,040,000 after buying an additional 233,361 shares during the period. Finally, Pantechnicon Advisors LLP increased its holdings in shares of Teck Resources by 40.1% during the third quarter. Pantechnicon Advisors LLP now owns 465,000 shares of the basic materials company’s stock valued at $20,037,000 after acquiring an additional 133,000 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

NYSE TECK opened at $52.05 on Friday. Teck Resources Limited has a one year low of $34.38 and a one year high of $55.13. The stock has a 50-day moving average of $48.88 and a 200 day moving average of $42.69. The company has a market capitalization of $26.62 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 11.37 and a beta of 1.12. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.49.

Teck Resources (NYSE:TECKGet Free Report) (TSE:TECK) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.31). The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.99 billion. Teck Resources had a net margin of 10.59% and a return on equity of 7.52%. On average, sell-side analysts forecast that Teck Resources Limited will post 2.18 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be given a dividend of $0.0911 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.70%. Teck Resources’s payout ratio is currently 16.37%.

Analyst Ratings Changes

Several brokerages have recently weighed in on TECK. Benchmark raised their price target on Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a report on Monday, April 8th. JPMorgan Chase & Co. raised their price target on Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Finally, Morgan Stanley restated an “overweight” rating and set a $55.00 price target on shares of Teck Resources in a report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $57.86.

View Our Latest Analysis on Teck Resources

About Teck Resources

(Free Report)

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.

See Also

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

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