Point72 Europe London LLP Boosts Position in Teck Resources Limited (NYSE:TECK)

Point72 Europe London LLP grew its holdings in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 51.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,400 shares of the basic materials company's stock after purchasing an additional 14,700 shares during the period. Point72 Europe London LLP's holdings in Teck Resources were worth $1,759,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TECK. Stonebridge Financial Group LLC bought a new stake in shares of Teck Resources during the 4th quarter valued at about $25,000. FPC Investment Advisory Inc. purchased a new position in shares of Teck Resources in the fourth quarter worth approximately $27,000. Global Trust Asset Management LLC bought a new stake in Teck Resources during the fourth quarter valued at approximately $27,000. Community Bank N.A. purchased a new stake in Teck Resources during the fourth quarter valued at approximately $33,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Teck Resources in the fourth quarter worth approximately $55,000. Hedge funds and other institutional investors own 78.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TECK shares. National Bank Financial raised shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. UBS Group reissued a "neutral" rating on shares of Teck Resources in a report on Tuesday, April 15th. National Bankshares raised Teck Resources from a "sector perform" rating to an "outperform" rating in a research note on Thursday, April 24th. Desjardins assumed coverage on Teck Resources in a research report on Friday, April 4th. They set a "buy" rating on the stock. Finally, BMO Capital Markets initiated coverage on shares of Teck Resources in a report on Wednesday, April 16th. They issued an "outperform" rating for the company. Six research 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $64.11.

Teck Resources Price Performance

Shares of Teck Resources stock traded up $0.28 during trading on Monday, reaching $35.96. 1,812,988 shares of the stock traded hands, compared to its average volume of 3,158,952. 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 company has a market capitalization of $17.72 billion, a price-to-earnings ratio of 65.38 and a beta of 0.79. Teck Resources Limited has a 52-week low of $28.32 and a 52-week high of $55.13. The business has a fifty day simple moving average of $36.02 and a two-hundred day simple moving average of $40.66.

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 the consensus estimate of $0.24 by $0.18. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The company had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $2.19 billion. During the same quarter in the previous year, the business posted $0.75 earnings per share. Teck Resources's quarterly revenue was up 41.4% on a year-over-year basis. Sell-side analysts expect that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.0901 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.36 annualized dividend and a dividend yield of 1.00%. This is an increase from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's payout ratio is currently 58.62%.

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.