Teck Resources Limited (NYSE:TECK) Position Lifted by Kailix Advisors LLC

Kailix Advisors LLC increased its holdings in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 13.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 990,481 shares of the basic materials company's stock after purchasing an additional 117,989 shares during the period. Teck Resources accounts for 23.5% of Kailix Advisors LLC's holdings, making the stock its 2nd biggest holding. Kailix Advisors LLC owned about 0.19% of Teck Resources worth $41,868,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Baystate Wealth Management LLC purchased a new stake in Teck Resources during the third quarter valued at approximately $31,000. JFS Wealth Advisors LLC lifted its position in Teck Resources by 249.0% during the third quarter. JFS Wealth Advisors LLC now owns 841 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 600 shares during the last quarter. Blue Trust Inc. lifted its position in Teck Resources by 187.3% during the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the basic materials company's stock valued at $64,000 after acquiring an additional 974 shares during the last quarter. Allworth Financial LP lifted its position in Teck Resources by 17.9% during the third quarter. Allworth Financial LP now owns 2,558 shares of the basic materials company's stock valued at $110,000 after acquiring an additional 388 shares during the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in Teck Resources during the fourth quarter valued at approximately $182,000. 78.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Morgan Stanley reaffirmed an "overweight" rating and issued a $55.00 price target on shares of Teck Resources in a report on Thursday, April 11th. UBS Group assumed coverage on shares of Teck Resources in a report on Tuesday, January 16th. They issued a "buy" rating for the company. Benchmark raised their price target on shares of Teck Resources from $50.00 to $52.00 and gave the stock a "buy" rating in a report on Monday, April 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of Teck Resources from $44.00 to $50.00 and gave the stock an "overweight" rating in a report on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Teck Resources has an average rating of "Moderate Buy" and an average price target of $57.86.

Teck Resources Stock Performance

TECK stock traded up $0.84 during midday trading on Friday, hitting $50.38. 4,965,983 shares of the stock traded hands, compared to its average volume of 4,763,129. The firm has a market cap of $25.72 billion, a P/E ratio of 22.29, a PEG ratio of 8.48 and a beta of 1.15. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.10 and a quick ratio of 0.60. The stock's fifty day simple moving average is $43.94 and its 200-day simple moving average is $40.40. Teck Resources Limited has a 1-year low of $34.38 and a 1-year high of $50.93.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $1.02 EPS for the quarter, beating the consensus estimate of $1.01 by $0.01. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.11 billion. Teck Resources had a net margin of 10.59% and a return on equity of 7.70%. On average, analysts expect that Teck Resources Limited will post 2.87 earnings per share for the current year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $0.0925 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.37 annualized dividend and a dividend yield of 0.73%. Teck Resources's dividend payout ratio (DPR) is 16.37%.

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.