Balyasny Asset Management L.P. Raises Stock Holdings in Teck Resources Limited (NYSE:TECK)

Balyasny Asset Management L.P. boosted its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 21.8% during the 4th quarter, according to its most recent filing with the SEC. The firm 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 approximately 0.21% of Teck Resources worth $42,427,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Stonebridge Financial Group LLC purchased a new position in Teck Resources during the fourth quarter valued at approximately $25,000. Global Trust Asset Management LLC acquired a new stake in shares of Teck Resources during the 4th quarter worth approximately $27,000. FPC Investment Advisory Inc. purchased a new position in shares of Teck Resources during the 4th quarter valued at approximately $27,000. Community Bank N.A. acquired a new position in shares of Teck Resources in the 4th quarter valued at $33,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Teck Resources in the third quarter worth about $40,000. Hedge funds and other institutional investors own 78.06% of the company's stock.

Analyst Ratings Changes

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

Teck Resources Trading Up 3.2 %

Teck Resources stock traded up $1.10 during trading on Friday, reaching $35.81. 3,074,075 shares of the company were exchanged, compared to its average volume of 3,126,294. The stock's 50 day simple moving average is $36.36 and its two-hundred day simple moving average is $41.19. The company has a market capitalization of $17.64 billion, a P/E ratio of 65.11 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 52-week low of $28.32 and a 52-week high of $55.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly 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. 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 in the previous year, the company posted $0.75 EPS. The company's revenue was up 41.4% compared to the same quarter last year. On average, equities research analysts expect that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 dividend yield of 1.01%. This is an increase from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio (DPR) is currently 58.62%.

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.