Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 8,270 shares of the basic materials company's stock, valued at approximately $335,000.
A number of other institutional investors also recently added to or reduced their stakes in TECK. Park Avenue Securities LLC lifted its stake in shares of Teck Resources by 5.7% in the 4th quarter. Park Avenue Securities LLC now owns 8,960 shares of the basic materials company's stock worth $363,000 after acquiring an additional 486 shares during the period. Atomi Financial Group Inc. acquired a new position in shares of Teck Resources during the fourth quarter valued at approximately $1,350,000. Bourgeon Capital Management LLC raised its holdings in 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 worth $284,000 after purchasing an additional 500 shares in the last quarter. Global Trust Asset Management LLC acquired a new stake in Teck Resources in the fourth quarter worth approximately $27,000. Finally, Exchange Traded Concepts LLC lifted its position in 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 worth $198,000 after purchasing an additional 327 shares during the period. Institutional investors and hedge funds own 78.06% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the company. UBS Group reiterated a "neutral" rating on shares of Teck Resources in a research report on Tuesday, April 15th. Veritas raised Teck Resources to a "hold" rating in a research note on Friday, April 11th. Raymond James dropped their price target on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 22nd. National Bank Financial raised shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. Finally, Bank of America raised their price objective on shares of Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Teck Resources has a consensus rating of "Moderate Buy" and a consensus price target of $64.11.
Read Our Latest Stock Analysis on Teck Resources
Teck Resources Price Performance
TECK stock opened at $35.92 on Wednesday. Teck Resources Limited has a one year low of $28.32 and a one year high of $54.48. The firm has a 50-day moving average of $35.93 and a two-hundred day moving average of $40.63. The firm has a market capitalization of $17.70 billion, a PE ratio of 65.31 and a beta of 0.79. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16.
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 (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.18. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $2.19 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The firm's revenue was up 41.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 earnings per share. On average, analysts forecast 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 paid a dividend of $0.0901 per share. This is an increase from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.36 annualized dividend and a yield of 1.00%. The ex-dividend date is Monday, June 16th. Teck Resources's payout ratio is 58.62%.
Teck Resources Company Profile
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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.
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