Quantinno Capital Management LP Increases Stock Position in Teck Resources Limited (NYSE:TECK)

Quantinno Capital Management LP boosted its stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 88.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,391 shares of the basic materials company's stock after buying an additional 13,757 shares during the period. Quantinno Capital Management LP's holdings in Teck Resources were worth $1,191,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TECK. Synergy Asset Management LLC lifted its holdings in shares of Teck Resources by 77.7% during the fourth quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company's stock valued at $685,000 after purchasing an additional 7,387 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Teck Resources by 31.5% during the fourth quarter. Blue Trust Inc. now owns 3,848 shares of the basic materials company's stock valued at $156,000 after purchasing an additional 921 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Teck Resources by 102.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 309,987 shares of the basic materials company's stock valued at $12,563,000 after purchasing an additional 156,980 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Teck Resources by 7.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company's stock valued at $198,000 after purchasing an additional 327 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of Teck Resources by 20.6% during the fourth quarter. Cetera Investment Advisers now owns 57,793 shares of the basic materials company's stock valued at $2,342,000 after purchasing an additional 9,887 shares during the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TECK has been the subject of several analyst reports. National Bankshares raised shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a research report on Thursday, April 24th. BMO Capital Markets initiated coverage on shares of Teck Resources in a research report on Wednesday, April 16th. They set an "outperform" rating for the company. Veritas raised shares of Teck Resources to a "hold" rating in a research report on Friday, April 11th. JPMorgan Chase & Co. reduced their price target on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Finally, National Bank Financial raised shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $64.11.

Teck Resources Stock Performance

NYSE:TECK traded up $1.33 during trading hours on Tuesday, reaching $37.93. The company had a trading volume of 3,197,510 shares, compared to its average volume of 3,146,415. Teck Resources Limited has a 52 week low of $28.32 and a 52 week high of $54.13. The firm's 50 day moving average price is $35.41 and its 200-day moving average price is $40.21. 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 firm has a market cap of $18.69 billion, a price-to-earnings ratio of 68.89 and a beta of 0.79.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings data 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 firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $2.19 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The company's revenue for the quarter was up 41.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.75 EPS. On average, analysts forecast that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $0.0901 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.36 annualized dividend and a yield of 0.95%. This is a boost from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's payout ratio is presently 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.