Twinbeech Capital LP Acquires Shares of 6,979 Teck Resources Limited (NYSE:TECK)

Twinbeech Capital LP purchased a new position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,979 shares of the basic materials company's stock, valued at approximately $283,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new stake in shares of Teck Resources in the fourth quarter worth $25,000. FPC Investment Advisory Inc. acquired a new stake in Teck Resources during the 4th quarter valued at $27,000. Community Bank N.A. acquired a new stake in Teck Resources during the 4th quarter valued at $33,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Teck Resources during the 4th quarter valued at $55,000. Finally, Altshuler Shaham Ltd acquired a new stake in Teck Resources during the 4th quarter valued at $70,000. Institutional investors and hedge funds own 78.06% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on TECK. UBS Group reiterated a "neutral" rating on shares of Teck Resources in a research note on Tuesday, April 15th. JPMorgan Chase & Co. reduced their price target on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Bank of America increased their price objective on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Monday, March 10th. National Bankshares raised shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a report on Thursday, April 24th. Finally, BMO Capital Markets started coverage on shares of Teck Resources in a report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $64.11.

Teck Resources Stock Performance

Teck Resources stock traded up $0.17 on Thursday, hitting $37.57. The company's stock had a trading volume of 584,443 shares, compared to its average volume of 3,558,129. The firm has a market cap of $18.51 billion, a P/E ratio of 68.33 and a beta of 0.79. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average price of $35.24 and a 200-day moving average price of $40.17. Teck Resources Limited has a one year low of $28.32 and a one year high of $54.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.18. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. The firm's quarterly revenue was up 41.4% compared to the same quarter last year. On average, equities analysts anticipate that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.36 dividend on an annualized basis and a yield of 0.96%. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio is currently 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.