Hudson Bay Capital Management LP Buys 40,000 Shares of Teck Resources Limited (NYSE:TECK)

Hudson Bay Capital Management LP increased its position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 72.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,000 shares of the basic materials company's stock after acquiring an additional 40,000 shares during the period. Hudson Bay Capital Management LP's holdings in Teck Resources were worth $3,850,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Synergy Asset Management LLC increased its stake in shares of Teck Resources by 77.7% in the fourth quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company's stock worth $685,000 after purchasing an additional 7,387 shares during the period. FNY Investment Advisers LLC boosted its stake in Teck Resources by 709.5% in the fourth quarter. FNY Investment Advisers LLC now owns 17,000 shares of the basic materials company's stock worth $689,000 after purchasing an additional 14,900 shares in the last quarter. Blue Trust Inc. grew 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 worth $156,000 after purchasing an additional 921 shares during the last quarter. Pictet Asset Management Holding SA grew 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 worth $12,563,000 after purchasing an additional 156,980 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew 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 worth $198,000 after purchasing an additional 327 shares during the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Stock Performance

Teck Resources stock traded down $0.84 during trading hours on Friday, hitting $35.65. The company had a trading volume of 4,969,400 shares, compared to its average volume of 3,161,549. The firm has a 50-day moving average of $36.16 and a 200 day moving average of $40.90. 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 firm has a market cap of $17.57 billion, a PE ratio of 64.82 and a beta of 0.79. Teck Resources Limited has a one year low of $28.32 and a one year high of $55.13.

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 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 quarter last year, the firm earned $0.75 earnings per share. The company's revenue was up 41.4% on a year-over-year basis. On average, sell-side analysts expect that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.0901 per share. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date is Monday, June 16th. This represents a $0.36 annualized dividend and a dividend yield of 1.01%. Teck Resources's dividend payout ratio (DPR) is currently 58.62%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TECK. Bank of America upped their price objective on Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Desjardins began coverage on Teck Resources in a report on Friday, April 4th. They set a "buy" rating on the stock. Raymond James reduced their price objective on Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, January 22nd. BMO Capital Markets began coverage on Teck Resources in a report on Wednesday, April 16th. They set an "outperform" rating on the stock. Finally, National Bank Financial raised 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 issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $64.11.

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.