Tidal Investments LLC Makes New Investment in Teck Resources Limited (NYSE:TECK)

Tidal Investments LLC purchased a new stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 28,665 shares of the basic materials company's stock, valued at approximately $1,162,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Teck Resources by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company's stock valued at $783,153,000 after purchasing an additional 58,985 shares during the last quarter. Amundi grew its stake in Teck Resources by 5.6% during the fourth quarter. Amundi now owns 14,949,233 shares of the basic materials company's stock worth $619,765,000 after buying an additional 791,725 shares during the period. Norges Bank purchased a new stake in shares of Teck Resources during the 4th quarter valued at about $470,101,000. Invesco Ltd. lifted its holdings in Teck Resources by 4.7% in the 4th quarter. Invesco Ltd. now owns 7,711,727 shares of the basic materials company's stock worth $312,556,000 after buying an additional 347,235 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in shares of Teck Resources by 2.0% during the fourth quarter. CIBC Asset Management Inc now owns 6,623,228 shares of the basic materials company's stock worth $269,956,000 after buying an additional 127,348 shares in the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. National Bankshares raised shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a report on Thursday, April 24th. Veritas raised Teck Resources to a "hold" rating in a report on Friday, April 11th. UBS Group reissued a "neutral" rating on shares of Teck Resources in a research note on Tuesday, April 15th. BMO Capital Markets began coverage on shares of Teck Resources in a report on Wednesday, April 16th. They set an "outperform" rating on the stock. Finally, Desjardins assumed coverage on Teck Resources in a report on Friday, April 4th. They set a "buy" rating on the stock. Six 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 stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $64.11.

Teck Resources Price Performance

TECK stock traded down $0.67 during midday trading on Friday, reaching $37.01. 575,142 shares of the stock were exchanged, compared to its average volume of 3,142,856. Teck Resources Limited has a 52 week low of $28.32 and a 52 week high of $54.13. The company has a fifty day moving average price of $35.16 and a 200 day moving average price of $40.11. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The stock has a market capitalization of $18.24 billion, a PE ratio of 67.43 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, topping analysts' consensus estimates of $0.24 by $0.18. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period last year, the company earned $0.75 earnings per share. The firm's revenue was up 41.4% compared to the same quarter last year. As a group, analysts expect that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.0901 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.97%. This is a boost from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date is Monday, June 16th. Teck Resources's dividend payout ratio is presently 58.62%.

About Teck Resources

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.