Renaissance Technologies LLC Purchases 346,000 Shares of Teck Resources Limited (NYSE:TECK)

Renaissance Technologies LLC lifted its position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 167.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 552,176 shares of the basic materials company's stock after purchasing an additional 346,000 shares during the period. Renaissance Technologies LLC owned 0.11% of Teck Resources worth $22,380,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new stake in shares of Teck Resources during the fourth quarter worth $25,000. Global Trust Asset Management LLC acquired a new stake in Teck Resources in the 4th quarter worth about $27,000. FPC Investment Advisory Inc. bought a new stake in Teck Resources in the 4th quarter valued at about $27,000. Community Bank N.A. acquired a new stake in shares of Teck Resources in the fourth quarter valued at approximately $33,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Teck Resources in the third quarter valued at approximately $40,000. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Trading Down 1.6 %

NYSE:TECK traded down $0.55 during midday trading on Friday, reaching $32.90. 2,714,398 shares of the stock traded hands, compared to its average volume of 3,184,467. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The stock has a market capitalization of $16.28 billion, a P/E ratio of 59.82 and a beta of 0.81. Teck Resources Limited has a 12 month low of $28.32 and a 12 month high of $55.13. The company has a fifty day moving average of $38.60 and a 200 day moving average of $42.95.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. The company had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. On average, research analysts predict that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.0879 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Friday, March 14th. Teck Resources's dividend payout ratio (DPR) is presently 61.82%.

Analyst Upgrades and Downgrades

TECK has been the subject of several analyst reports. Veritas raised Teck Resources to a "hold" rating in a report on Friday, April 11th. Bank of America boosted their target price on shares of Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a research report on Monday, March 10th. BMO Capital Markets began coverage on shares of Teck Resources in a research note on Wednesday. They issued an "outperform" rating on the stock. Raymond James cut their target price on Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a research note on Wednesday, January 22nd. Finally, Desjardins initiated coverage on Teck Resources in a report on Friday, April 4th. They set a "buy" rating for the company. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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.