High Ground Investment Management LLP Buys 20,000 Shares of Teck Resources Limited (NYSE:TECK)

High Ground Investment Management LLP grew its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 21.1% in the 4th quarter, HoldingsChannel reports. The fund owned 114,705 shares of the basic materials company’s stock after purchasing an additional 20,000 shares during the quarter. Teck Resources makes up 1.4% of High Ground Investment Management LLP’s investment portfolio, making the stock its 8th largest position. High Ground Investment Management LLP’s holdings in Teck Resources were worth $4,649,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of TECK. Synergy Asset Management LLC increased its stake in shares of Teck Resources by 77.7% during the fourth quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company’s stock worth $685,000 after purchasing an additional 7,387 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Teck Resources in the 3rd quarter valued at $1,937,000. Paloma Partners Management Co acquired a new position in Teck Resources in the 3rd quarter valued at $20,896,000. FNY Investment Advisers LLC grew its holdings in Teck Resources by 709.5% in 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. Finally, BNP Paribas Financial Markets increased its position in Teck Resources by 194.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 141,593 shares of the basic materials company’s stock worth $7,397,000 after buying an additional 93,459 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Bank of America boosted their target price on shares of Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, March 10th. National Bank Financial downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. decreased their target price on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Finally, Raymond James dropped their price target 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 investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $65.22.

Teck Resources Stock Down 1.9 %

Shares of TECK opened at $39.35 on Friday. The firm has a 50 day simple moving average of $41.67 and a two-hundred day simple moving average of $44.69. The company has a market cap of $19.80 billion, a P/E ratio of 71.54 and a beta of 0.93. Teck Resources Limited has a one year low of $36.54 and a one 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.

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

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.0879 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.89%. Teck Resources’s payout ratio is currently 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.