Teck Resources Limited (NYSE:TECK) Shares Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. raised its holdings in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 21.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,046,803 shares of the basic materials company's stock after purchasing an additional 187,489 shares during the period. Balyasny Asset Management L.P. owned about 0.21% of Teck Resources worth $42,427,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bayesian Capital Management LP purchased a new position in Teck Resources in the 4th quarter worth about $3,216,000. BNP Paribas Financial Markets raised its holdings in Teck Resources by 100.1% in the 4th quarter. BNP Paribas Financial Markets now owns 283,346 shares of the basic materials company's stock valued at $11,484,000 after acquiring an additional 141,753 shares in the last quarter. Itau Unibanco Holding S.A. increased its position in shares of Teck Resources by 42.4% during the fourth quarter. Itau Unibanco Holding S.A. now owns 20,679 shares of the basic materials company's stock valued at $834,000 after purchasing an additional 6,158 shares during the period. Soros Fund Management LLC raised its stake in Teck Resources by 8.0% during the fourth quarter. Soros Fund Management LLC now owns 347,171 shares of the basic materials company's stock worth $14,071,000 after acquiring an additional 25,668 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Teck Resources by 55.9% during the fourth quarter. Northern Trust Corp now owns 391,370 shares of the basic materials company's stock valued at $15,862,000 after acquiring an additional 140,404 shares during the period. Institutional investors and hedge funds own 78.06% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on TECK shares. National Bankshares upgraded shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. decreased their target price on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. UBS Group restated a "neutral" rating on shares of Teck Resources in a research note on Tuesday, April 15th. Veritas raised shares of Teck Resources to a "hold" rating in a research report on Friday, April 11th. Finally, Raymond James cut their price objective on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a research report on Wednesday, January 22nd. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $64.11.

Teck Resources Stock Performance

NYSE:TECK traded up $1.10 during trading hours on Friday, reaching $35.81. The company had a trading volume of 3,074,075 shares, compared to its average volume of 3,126,661. Teck Resources Limited has a 52 week low of $28.32 and a 52 week high of $55.13. The firm's 50 day moving average price is $36.36 and its 200-day moving average price is $41.14. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The firm has a market cap of $17.64 billion, a price-to-earnings ratio of 65.11 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, 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 net margin of 2.96% and a return on equity of 4.59%. The business's revenue was up 41.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 earnings per share. On average, analysts forecast that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The firm also recently announced 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. This represents a $0.36 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Monday, June 16th. This is a boost from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio (DPR) is 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.