Teck Resources Limited (NYSE:TECK) is CoreCommodity Management LLC's 10th Largest Position

CoreCommodity Management LLC increased its position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 883.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,631 shares of the basic materials company's stock after buying an additional 108,371 shares during the period. Teck Resources comprises 1.0% of CoreCommodity Management LLC's portfolio, making the stock its 10th largest holding. CoreCommodity Management LLC's holdings in Teck Resources were worth $4,889,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Cetera Investment Advisers raised its holdings in Teck Resources by 20.6% in the 4th quarter. Cetera Investment Advisers now owns 57,793 shares of the basic materials company's stock valued at $2,342,000 after acquiring an additional 9,887 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in Teck Resources by 21.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,046,803 shares of the basic materials company's stock valued at $42,427,000 after purchasing an additional 187,489 shares during the last quarter. Bayesian Capital Management LP purchased a new position in Teck Resources during the fourth quarter worth about $3,216,000. BNP Paribas Financial Markets lifted its position in Teck Resources by 100.1% during the fourth quarter. BNP Paribas Financial Markets now owns 283,346 shares of the basic materials company's stock worth $11,484,000 after buying an additional 141,753 shares during the period. Finally, Itau Unibanco Holding S.A. boosted its stake in Teck Resources by 42.4% in the 4th quarter. Itau Unibanco Holding S.A. now owns 20,679 shares of the basic materials company's stock worth $834,000 after buying an additional 6,158 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company's stock.

Teck Resources Stock Up 0.6 %

Shares of Teck Resources stock opened at $35.09 on Wednesday. Teck Resources Limited has a 1-year low of $28.32 and a 1-year high of $55.13. The company has a market capitalization of $17.29 billion, a PE ratio of 63.80 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. The business has a 50-day moving average of $36.64 and a 200-day moving average of $41.45.

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 for the quarter, beating analysts' consensus estimates of $0.24 by $0.18. The firm had revenue of $1.60 billion during 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%. Teck Resources's quarterly revenue was up 41.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 EPS. As a group, equities analysts forecast that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.0901 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.03%. This is an increase 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 58.62%.

Wall Street Analyst Weigh In

TECK has been the topic of several recent analyst reports. National Bank Financial upgraded shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. Veritas raised shares of Teck Resources to a "hold" rating in a research note on Friday, April 11th. Bank of America boosted their price objective on shares of Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a research note on Monday, March 10th. BMO Capital Markets initiated coverage on Teck Resources in a report on Wednesday, April 16th. They set an "outperform" rating for the company. Finally, Desjardins initiated coverage on Teck Resources in a 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 given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Teck Resources currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.11.

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.

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