Aquatic Capital Management LLC Purchases Shares of 125,024 Teck Resources Limited (NYSE:TECK)

Aquatic Capital Management LLC acquired a new stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 125,024 shares of the basic materials company's stock, valued at approximately $5,067,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new position in Teck Resources during the 4th quarter worth approximately $3,234,000. Nekton Capital Ltd. raised its holdings in shares of Teck Resources by 99.1% in the fourth quarter. Nekton Capital Ltd. now owns 130,892 shares of the basic materials company's stock valued at $5,305,000 after buying an additional 65,151 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Teck Resources by 24.9% in the 4th quarter. Hsbc Holdings PLC now owns 332,153 shares of the basic materials company's stock valued at $13,463,000 after purchasing an additional 66,302 shares during the last quarter. J. Safra Sarasin Holding AG increased its stake in Teck Resources by 35.5% in the 4th quarter. J. Safra Sarasin Holding AG now owns 24,475 shares of the basic materials company's stock valued at $992,000 after buying an additional 6,407 shares during the period. Finally, State of Tennessee Department of Treasury raised its holdings in Teck Resources by 0.7% during the fourth quarter. State of Tennessee Department of Treasury now owns 265,588 shares of the basic materials company's stock worth $10,762,000 after purchasing an additional 1,731 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company's stock.

Teck Resources Price Performance

TECK traded up $1.27 on Friday, reaching $35.47. The company had a trading volume of 1,463,050 shares, compared to its average volume of 3,127,554. Teck Resources Limited has a one year low of $28.32 and a one year high of $55.13. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average of $36.98 and a 200-day moving average of $41.82. The company has a market capitalization of $17.48 billion, a P/E ratio of 64.54 and a beta of 0.81.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.18. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period in the previous year, the firm earned $0.75 earnings per share. Teck Resources's revenue for the quarter was up 41.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $0.0901 dividend. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.36 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Monday, June 16th. Teck Resources's dividend payout ratio is presently 58.62%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TECK. Desjardins initiated coverage on Teck Resources in a research note on Friday, April 4th. They issued a "buy" rating for the company. Bank of America upped their target price on Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Veritas raised Teck Resources to a "hold" rating in a report on Friday, April 11th. JPMorgan Chase & Co. cut their target price on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Finally, BMO Capital Markets began coverage on shares of Teck Resources in a research report on Wednesday, April 16th. They issued an "outperform" rating for the company. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $64.11.

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.