Two Sigma Advisers LP Raises Holdings in Teck Resources Limited (NYSE:TECK)

Two Sigma Advisers LP lifted its position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 54.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 157,300 shares of the basic materials company's stock after purchasing an additional 55,600 shares during the period. Two Sigma Advisers LP's holdings in Teck Resources were worth $6,375,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in Teck Resources in the fourth quarter worth approximately $470,101,000. Swedbank AB bought a new position in shares of Teck Resources in the 4th quarter worth $103,878,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Teck Resources during the 4th quarter worth $65,197,000. AMF Tjanstepension AB boosted its position in Teck Resources by 32.2% during the fourth quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company's stock valued at $244,252,000 after purchasing an additional 1,467,516 shares in the last quarter. Finally, FMR LLC grew its stake in Teck Resources by 29.7% in the fourth quarter. FMR LLC now owns 4,715,144 shares of the basic materials company's stock valued at $191,133,000 after purchasing an additional 1,080,714 shares during the last quarter. Institutional investors own 78.06% of the company's stock.

Teck Resources Stock Performance

Shares of TECK traded down $0.66 during trading hours on Friday, hitting $37.02. The stock had a trading volume of 665,850 shares, compared to its average volume of 3,542,181. Teck Resources Limited has a fifty-two week low of $28.32 and a fifty-two week high of $54.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The firm has a market capitalization of $18.24 billion, a price-to-earnings ratio of 67.27 and a beta of 0.79. The firm has a 50-day moving average price of $35.16 and a 200 day moving average price of $40.11.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly 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. 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 EPS. As a group, research analysts anticipate 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. Stockholders of record on Monday, June 16th will be given a $0.0901 dividend. The ex-dividend date is Monday, June 16th. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.97%. Teck Resources's dividend payout ratio is 58.62%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TECK shares. Veritas upgraded shares of Teck Resources to a "hold" rating in a research note on Friday, April 11th. BMO Capital Markets began coverage on Teck Resources in a research note on Wednesday, April 16th. They set an "outperform" rating on the stock. National Bankshares upgraded shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a report on Thursday, April 24th. Desjardins began coverage on shares of Teck Resources in a research note on Friday, April 4th. They issued a "buy" rating for the company. Finally, National Bank Financial raised shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $64.11.

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.