Cubist Systematic Strategies LLC Boosts Stock Position in Teck Resources Ltd $TECK

Key Points

• Cubist Systematic Strategies LLC increased its holdings in Teck Resources Ltd by 3,212.7%, acquiring 404,029 additional shares to reach a total of 416,605 shares valued at approximately $15.2 million.
• Teck Resources announced an increase in its quarterly dividend to $0.0918 per share, reflecting a boost from the previous dividend of $0.09, with a dividend yield of 1.1%.
• As of the latest quarter, Teck Resources reported earnings of $0.27 per share, surpassing analysts' expectations, although revenue fell short of consensus estimates at $1.49 billion.

Cubist Systematic Strategies LLC increased its stake in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 3,212.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 416,605 shares of the basic materials company's stock after purchasing an additional 404,029 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.08% of Teck Resources worth $15,177,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. First Trust Advisors LP boosted its stake in Teck Resources by 1.6% in the 4th quarter. First Trust Advisors LP now owns 65,749 shares of the basic materials company's stock worth $2,665,000 after buying an additional 1,027 shares during the last quarter. Northern Trust Corp boosted its stake in Teck Resources by 55.9% in the 4th quarter. Northern Trust Corp now owns 391,370 shares of the basic materials company's stock worth $15,862,000 after buying an additional 140,404 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Teck Resources by 100.1% in the 4th quarter. BNP Paribas Financial Markets now owns 283,346 shares of the basic materials company's stock valued at $11,484,000 after purchasing an additional 141,753 shares in the last quarter. Bayesian Capital Management LP acquired a new position in shares of Teck Resources in the 4th quarter valued at about $3,216,000. Finally, Balyasny Asset Management L.P. lifted its stake in shares of Teck Resources by 21.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,046,803 shares of the basic materials company's stock valued at $42,427,000 after purchasing an additional 187,489 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company's stock.

Teck Resources Stock Up 4.7%

Shares of NYSE:TECK traded up $1.54 during mid-day trading on Friday, hitting $34.31. 5,199,901 shares of the company traded hands, compared to its average volume of 3,702,271. The firm has a market cap of $16.48 billion, a P/E ratio of 90.29, a PEG ratio of 0.51 and a beta of 0.78. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.45 and a current ratio of 3.47. Teck Resources Ltd has a 52-week low of $28.32 and a 52-week high of $54.13. The firm's 50 day simple moving average is $35.13 and its 200 day simple moving average is $36.59.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its earnings results on Thursday, July 24th. The basic materials company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.20 by $0.07. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $2.25 billion. Teck Resources had a return on equity of 3.91% and a net margin of 2.51%.The company's revenue was up 12.3% on a year-over-year basis. During the same period last year, the business posted $0.79 EPS. On average, equities analysts anticipate that Teck Resources Ltd will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.0918 per share. The ex-dividend date is Monday, September 15th. This represents a $0.37 annualized dividend and a yield of 1.1%. This is a boost from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio (DPR) is presently 94.74%.

Wall Street Analysts Forecast Growth

TECK has been the topic of several research analyst reports. Desjardins lowered Teck Resources from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Wall Street Zen raised Teck Resources from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Benchmark reduced their price objective on Teck Resources from $55.00 to $48.00 and set a "buy" rating on the stock in a research note on Monday, July 28th. Cibc World Mkts downgraded Teck Resources from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Finally, B. Riley downgraded Teck Resources from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $57.88.

Teck Resources 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.