Sagefield Capital LP Raises Stake in Teck Resources Limited (NYSE:TECK)

Sagefield Capital LP raised its holdings in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 7.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 197,486 shares of the basic materials company's stock after purchasing an additional 13,837 shares during the quarter. Sagefield Capital LP's holdings in Teck Resources were worth $8,004,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in TECK. Park Avenue Securities LLC lifted its holdings in shares of Teck Resources by 5.7% in the fourth quarter. Park Avenue Securities LLC now owns 8,960 shares of the basic materials company's stock worth $363,000 after buying an additional 486 shares in the last quarter. Atomi Financial Group Inc. purchased a new stake in shares of Teck Resources in the fourth quarter worth about $1,350,000. Bourgeon Capital Management LLC lifted its holdings in shares of Teck Resources by 7.7% in the fourth quarter. Bourgeon Capital Management LLC now owns 7,000 shares of the basic materials company's stock worth $284,000 after buying an additional 500 shares in the last quarter. Global Trust Asset Management LLC purchased a new stake in shares of Teck Resources in the fourth quarter worth about $27,000. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Teck Resources by 7.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company's stock worth $198,000 after buying an additional 327 shares in the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TECK. BMO Capital Markets began coverage on shares of Teck Resources in a report on Wednesday, April 16th. They issued an "outperform" rating on the stock. UBS Group reissued a "neutral" rating on shares of Teck Resources in a report on Tuesday, April 15th. Raymond James decreased their price objective on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 22nd. Veritas upgraded shares of Teck Resources to a "hold" rating in a research report on Friday, April 11th. Finally, National Bank Financial upgraded shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Teck Resources currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.11.

Teck Resources Stock Down 2.3%

Shares of NYSE TECK opened at $35.65 on Friday. Teck Resources Limited has a one year low of $28.32 and a one year high of $55.13. 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 firm's 50 day simple moving average is $36.10 and its two-hundred day simple moving average is $40.82. The stock has a market capitalization of $17.57 billion, a P/E ratio of 64.82 and a beta of 0.79.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share (EPS) 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 firm had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $2.19 billion. During the same quarter last year, the business earned $0.75 earnings per share. The business's revenue was up 41.4% on a year-over-year basis. As a group, analysts expect that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.0901 dividend. This is a boost from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date is Monday, June 16th. This represents a $0.36 annualized dividend and a dividend yield of 1.01%. Teck Resources's dividend payout ratio (DPR) is currently 58.62%.

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.

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