8,270 Shares in Teck Resources Limited (NYSE:TECK) Acquired by Arrowpoint Investment Partners Singapore Pte. Ltd.

Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,270 shares of the basic materials company's stock, valued at approximately $335,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Park Avenue Securities LLC increased its stake in shares of Teck Resources by 5.7% in the fourth quarter. Park Avenue Securities LLC now owns 8,960 shares of the basic materials company's stock worth $363,000 after buying an additional 486 shares during the last quarter. Atomi Financial Group Inc. acquired a new position in shares of Teck Resources during the fourth quarter valued at $1,350,000. Bourgeon Capital Management LLC raised its holdings in shares of Teck Resources by 7.7% during the fourth quarter. Bourgeon Capital Management LLC now owns 7,000 shares of the basic materials company's stock valued at $284,000 after buying an additional 500 shares during the last quarter. Global Trust Asset Management LLC acquired a new position in shares of Teck Resources during the fourth quarter valued at $27,000. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Teck Resources by 7.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company's stock valued at $198,000 after acquiring an additional 327 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company's stock.

Analyst Upgrades and Downgrades

TECK has been the topic of a number of research reports. National Bank Financial upgraded shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. UBS Group reiterated a "neutral" rating on shares of Teck Resources in a report on Tuesday, April 15th. Veritas raised shares of Teck Resources to a "hold" rating in a research note on Friday, April 11th. National Bankshares raised Teck Resources from a "sector perform" rating to an "outperform" rating in a research report on Thursday, April 24th. Finally, Desjardins started coverage on Teck Resources in a research report on Friday, April 4th. They issued a "buy" rating on the stock. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Teck Resources has an average rating of "Moderate Buy" and an average target price of $64.11.

Teck Resources Stock Performance

Shares of TECK traded up $1.15 during mid-day trading on Monday, reaching $36.62. The company's stock had a trading volume of 2,992,306 shares, compared to its average volume of 3,145,832. Teck Resources Limited has a 1-year low of $28.32 and a 1-year high of $54.13. The business has a 50-day simple moving average of $35.54 and a two-hundred day simple moving average of $40.29. 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 stock has a market cap of $18.04 billion, a P/E ratio of 66.58 and a beta of 0.79.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.18. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The business had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $2.19 billion. During the same period last year, the firm posted $0.75 EPS. The firm'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 fiscal year.

Teck Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.0901 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Monday, June 16th. This is an increase from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's payout ratio is 58.62%.

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.