Susquehanna Fundamental Investments LLC Acquires New Stake in Teck Resources Limited (NYSE:TECK)

Susquehanna Fundamental Investments LLC bought a new stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 79,800 shares of the basic materials company's stock, valued at approximately $3,234,000.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Teck Resources by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company's stock valued at $783,153,000 after acquiring an additional 58,985 shares in the last quarter. Amundi boosted its position in shares of Teck Resources by 5.6% in the 4th quarter. Amundi now owns 14,949,233 shares of the basic materials company's stock valued at $619,765,000 after purchasing an additional 791,725 shares during the period. Norges Bank acquired a new stake in shares of Teck Resources in the 4th quarter valued at about $470,101,000. Invesco Ltd. grew its stake in Teck Resources by 4.7% during the 4th quarter. Invesco Ltd. now owns 7,711,727 shares of the basic materials company's stock worth $312,556,000 after buying an additional 347,235 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Teck Resources by 21.7% during the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock worth $388,507,000 after buying an additional 1,326,241 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Price Performance

Shares of TECK stock traded up $1.31 during midday trading on Friday, reaching $35.51. 3,019,497 shares of the company traded hands, compared to its average volume of 3,134,443. The firm's 50 day simple moving average is $36.88 and its two-hundred day simple moving average is $41.67. The firm has a market cap of $17.50 billion, a PE ratio of 64.56 and a beta of 0.79. 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 1-year low of $28.32 and a 1-year high of $55.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings data 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. The firm had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $2.19 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. Teck Resources's revenue was up 41.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 earnings per share. On average, equities research analysts expect that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.0901 dividend. 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. The ex-dividend date of this dividend is Monday, June 16th. Teck Resources's dividend payout ratio is presently 58.62%.

Analysts Set New Price Targets

TECK has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their target price on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Veritas raised shares of Teck Resources to a "hold" rating in a research report on Friday, April 11th. National Bankshares raised shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a report on Thursday, April 24th. BMO Capital Markets began coverage on shares of Teck Resources in a research note on Wednesday, April 16th. They set an "outperform" rating for the company. Finally, Desjardins initiated coverage on Teck Resources in a research report on Friday, April 4th. They issued a "buy" rating on the stock. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Teck Resources currently has an average 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.