Soros Fund Management LLC Acquires 25,668 Shares of Teck Resources Limited (NYSE:TECK)

Soros Fund Management LLC grew its position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 8.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 347,171 shares of the basic materials company's stock after acquiring an additional 25,668 shares during the quarter. Soros Fund Management LLC owned 0.07% of Teck Resources worth $14,071,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in Teck Resources by 2.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the basic materials company's stock worth $471,000 after purchasing an additional 243 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Teck Resources by 2.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 9,809 shares of the basic materials company's stock valued at $398,000 after purchasing an additional 279 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in shares of Teck Resources by 6.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,844 shares of the basic materials company's stock worth $196,000 after buying an additional 297 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Teck Resources by 2.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company's stock worth $566,000 after buying an additional 302 shares during the period. Finally, Exchange Traded Concepts LLC boosted its stake in Teck Resources by 7.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company's stock valued at $198,000 after buying an additional 327 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TECK. Bank of America lifted their price objective on Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a report on Monday, March 10th. Desjardins started coverage on shares of Teck Resources in a research report on Friday, April 4th. They issued a "buy" rating on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Veritas raised Teck Resources to a "hold" rating in a report on Friday, April 11th. Finally, Raymond James dropped their price target 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 equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.11.

Teck Resources Trading Up 3.8 %

Shares of Teck Resources stock traded up $1.31 on Friday, hitting $35.51. 3,019,497 shares of the company's stock traded hands, compared to its average volume of 3,132,663. The firm's 50-day moving average price is $36.88 and its two-hundred day moving average price is $41.72. 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 stock has a market capitalization of $17.50 billion, a PE ratio of 64.56 and a beta of 0.81. Teck Resources Limited has a one year low of $28.32 and a one year high of $55.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.18. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $2.19 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The company's quarterly revenue was up 41.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 earnings per share. On average, research analysts expect that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

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

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.