Quantbot Technologies LP Invests $2.23 Million in Teck Resources Limited (NYSE:TECK)

Quantbot Technologies LP bought a new position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 54,971 shares of the basic materials company’s stock, valued at approximately $2,228,000.

Other institutional investors have also recently made changes to their positions in the company. Synergy Asset Management LLC increased its position in Teck Resources by 77.7% during the 4th quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company’s stock valued at $685,000 after buying an additional 7,387 shares in the last quarter. Forest Avenue Capital Management LP increased its position in Teck Resources by 3.7% during the 3rd quarter. Forest Avenue Capital Management LP now owns 720,920 shares of the basic materials company’s stock valued at $37,661,000 after buying an additional 25,430 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Teck Resources during the 3rd quarter valued at approximately $1,937,000. Paloma Partners Management Co bought a new position in Teck Resources during the 3rd quarter valued at approximately $20,896,000. Finally, FNY Investment Advisers LLC increased its position in Teck Resources by 709.5% during the 4th quarter. FNY Investment Advisers LLC now owns 17,000 shares of the basic materials company’s stock valued at $689,000 after buying an additional 14,900 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. cut their target price on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Bank of America increased their target price on Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Finally, Raymond James cut their target price on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $65.22.

Teck Resources Stock Performance

TECK stock opened at $41.53 on Monday. The company has a market cap of $20.90 billion, a P/E ratio of 75.50 and a beta of 0.93. Teck Resources Limited has a 1 year low of $36.54 and a 1 year high of $55.13. 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’s fifty day moving average price is $41.79 and its 200-day moving average price is $44.78.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. On average, equities analysts forecast that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.0879 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 annualized dividend and a yield of 0.85%. Teck Resources’s dividend payout ratio (DPR) is presently 61.82%.

Teck Resources 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.