Aigen Investment Management LP Purchases Shares of 21,340 Teck Resources Limited (NYSE:TECK)

Aigen Investment Management LP bought a new stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 21,340 shares of the basic materials company's stock, valued at approximately $902,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its stake in Teck Resources by 4.8% in the fourth quarter. Franklin Resources Inc. now owns 294,513 shares of the basic materials company's stock valued at $12,449,000 after buying an additional 13,503 shares during the last quarter. Trexquant Investment LP bought a new stake in Teck Resources in the fourth quarter valued at $737,000. Corient Private Wealth LLC lifted its stake in Teck Resources by 7.4% in the fourth quarter. Corient Private Wealth LLC now owns 38,713 shares of the basic materials company's stock valued at $1,636,000 after buying an additional 2,653 shares during the last quarter. Clearbridge Investments LLC lifted its stake in Teck Resources by 35.0% in the fourth quarter. Clearbridge Investments LLC now owns 621,270 shares of the basic materials company's stock valued at $26,261,000 after buying an additional 160,943 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Teck Resources by 8.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,357 shares of the basic materials company's stock valued at $480,000 after purchasing an additional 865 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Benchmark lifted their price objective on shares of Teck Resources from $50.00 to $52.00 and gave the company a "buy" rating in a research note on Monday, April 8th. Morgan Stanley restated an "overweight" rating and set a $55.00 price objective on shares of Teck Resources in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Teck Resources from $44.00 to $50.00 and gave the company an "overweight" rating in a research note on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $57.86.

Teck Resources Price Performance

NYSE:TECK traded down $2.69 during mid-day trading on Wednesday, reaching $50.71. 4,858,734 shares of the stock were exchanged, compared to its average volume of 3,933,303. The business has a fifty day moving average price of $48.05 and a 200 day moving average price of $42.06. The firm has a market capitalization of $25.94 billion, a PE ratio of 22.44, a PEG ratio of 12.14 and a beta of 1.12. Teck Resources Limited has a 1-year low of $34.38 and a 1-year high of $55.13. The company has a current ratio of 1.49, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its earnings results on Thursday, April 25th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.31). The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.99 billion. Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. Research analysts expect that Teck Resources Limited will post 2.18 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be paid a $0.0911 dividend. The ex-dividend date is Monday, June 17th. This represents a $0.36 dividend on an annualized basis and a yield of 0.72%. Teck Resources's dividend payout ratio is currently 16.37%.

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.