Point72 Asia Singapore Pte. Ltd. Invests $442,000 in Teck Resources Limited (NYSE:TECK)

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,916 shares of the basic materials company's stock, valued at approximately $442,000.

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

Teck Resources Stock Up 0.8%

NYSE:TECK traded up $0.28 during mid-day trading on Monday, reaching $35.96. The stock had a trading volume of 1,812,988 shares, compared to its average volume of 3,158,952. The stock has a market cap of $17.72 billion, a P/E ratio of 65.38 and a beta of 0.79. The business's 50 day moving average is $36.02 and its 200 day moving average is $40.66. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. Teck Resources Limited has a fifty-two week low of $28.32 and a fifty-two week high of $55.13.

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, beating analysts' consensus estimates of $0.24 by $0.18. The business had revenue of $1.60 billion for 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%. Teck Resources's revenue for the quarter was up 41.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 EPS. As a group, sell-side analysts predict that Teck Resources Limited will post 1.53 earnings per share 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 paid a dividend of $0.0901 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Monday, June 16th. This is an increase from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio is 58.62%.

Wall Street Analyst Weigh In

TECK has been the subject of several recent research reports. BMO Capital Markets assumed coverage on shares of Teck Resources in a research note on Wednesday, April 16th. They set an "outperform" rating for the company. Desjardins began coverage on Teck Resources in a report on Friday, April 4th. They issued a "buy" rating on the stock. Bank of America raised their price objective on Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. National Bank Financial upgraded Teck Resources from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. Finally, Raymond James reduced their target price on Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, January 22nd. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Teck Resources currently has a consensus 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.