FNY Investment Advisers LLC Acquires 8,180 Shares of Teck Resources Ltd (NYSE:TECK)

FNY Investment Advisers LLC increased its position in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 48.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,180 shares of the basic materials company's stock after purchasing an additional 8,180 shares during the period. FNY Investment Advisers LLC's holdings in Teck Resources were worth $917,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TECK. Norges Bank purchased a new stake in Teck Resources during the fourth quarter worth about $470,101,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Teck Resources in the fourth quarter worth about $65,197,000. AMF Tjanstepension AB increased its stake in shares of Teck Resources by 32.2% in the fourth quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company's stock worth $244,252,000 after purchasing an additional 1,467,516 shares in the last quarter. FMR LLC increased its stake in shares of Teck Resources by 29.7% in the fourth quarter. FMR LLC now owns 4,715,144 shares of the basic materials company's stock worth $191,133,000 after purchasing an additional 1,080,714 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in shares of Teck Resources by 18.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 5,882,044 shares of the basic materials company's stock worth $238,381,000 after purchasing an additional 932,058 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Bank of America lifted their target price on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. National Bank Financial upgraded shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Desjardins assumed coverage on shares of Teck Resources in a research note on Friday, April 4th. They set a "buy" rating for the company. Veritas raised shares of Teck Resources to a "hold" rating in a research note on Friday, April 11th. Finally, UBS Group reaffirmed a "neutral" rating on shares of Teck Resources in a research note on Tuesday, April 15th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Teck Resources presently has a consensus rating of "Moderate Buy" and an average price target of $64.11.

Teck Resources Price Performance

Teck Resources stock traded down $0.24 during mid-day trading on Thursday, hitting $38.25. 2,325,912 shares of the company traded hands, compared to its average volume of 3,160,915. Teck Resources Ltd has a one year low of $28.32 and a one year high of $54.13. The stock has a market cap of $18.72 billion, a price-to-earnings ratio of 65.95, a price-to-earnings-growth ratio of 0.50 and a beta of 0.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.57 and a current ratio of 3.36. The stock has a fifty day moving average price of $36.06 and a 200-day moving average price of $39.32.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.18. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $2.19 billion. Teck Resources had a net margin of 3.48% and a return on equity of 4.53%. The business's quarterly revenue was up 41.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 EPS. On average, equities analysts predict that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.0901 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.94%. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date is Monday, June 16th. Teck Resources's payout ratio is presently 62.07%.

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.