Two Sigma Advisers LP Buys 55,600 Shares of Teck Resources Limited (NYSE:TECK)

Two Sigma Advisers LP grew its position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 54.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 157,300 shares of the basic materials company's stock after buying 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 reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new stake in shares of Teck Resources in the 4th quarter valued at approximately $25,000. FPC Investment Advisory Inc. acquired a new stake in Teck Resources in the fourth quarter worth $27,000. Community Bank N.A. acquired a new stake in Teck Resources in the fourth quarter worth $33,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Teck Resources during the fourth quarter worth $55,000. Finally, Altshuler Shaham Ltd acquired a new position in shares of Teck Resources in the 4th quarter valued at $70,000. 78.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. National Bankshares upgraded 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 research report on Friday, April 11th. UBS Group reaffirmed a "neutral" rating on shares of Teck Resources in a research report on Tuesday, April 15th. Bank of America raised their price target on Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Finally, Desjardins began coverage on Teck Resources in a research report on Friday, April 4th. They set a "buy" rating on the stock. Six 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 company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $64.11.

Teck Resources Stock Down 1.2%

Shares of NYSE:TECK traded down $0.44 during midday trading on Wednesday, reaching $37.42. The company had a trading volume of 2,558,563 shares, compared to its average volume of 3,150,088. 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 business's 50 day moving average price is $35.32 and its 200 day moving average price is $40.19. The stock has a market cap of $18.44 billion, a PE ratio of 68.04 and a beta of 0.79. Teck Resources Limited has a 1-year low of $28.32 and a 1-year high of $54.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $2.19 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The business's revenue was up 41.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 earnings per share. Research analysts forecast that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The company 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 dividend of $0.0901 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Monday, June 16th. This is a boost from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's payout ratio is currently 58.62%.

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.