10,916 Shares in Teck Resources Limited (NYSE:TECK) Purchased by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. purchased a new stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,916 shares of the basic materials company’s stock, valued at approximately $442,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Europe London LLP raised its position in Teck Resources by 51.2% during the fourth quarter. Point72 Europe London LLP now owns 43,400 shares of the basic materials company’s stock worth $1,759,000 after acquiring an additional 14,700 shares in the last quarter. Progeny 3 Inc. increased its stake in shares of Teck Resources by 0.7% during the 4th quarter. Progeny 3 Inc. now owns 491,327 shares of the basic materials company’s stock worth $19,913,000 after purchasing an additional 3,520 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of Teck Resources by 88.0% in the 4th quarter. Quantinno Capital Management LP now owns 29,391 shares of the basic materials company’s stock valued at $1,191,000 after purchasing an additional 13,757 shares during the period. Man Group plc raised its holdings in shares of Teck Resources by 41.5% in the 4th quarter. Man Group plc now owns 143,162 shares of the basic materials company’s stock valued at $5,802,000 after purchasing an additional 41,996 shares during the period. Finally, Nuveen Asset Management LLC lifted its stake in Teck Resources by 16.1% in the 4th quarter. Nuveen Asset Management LLC now owns 1,449,731 shares of the basic materials company’s stock valued at $58,748,000 after purchasing an additional 201,097 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

Shares of NYSE TECK opened at $36.47 on Friday. The stock has a market cap of $17.97 billion, a price-to-earnings ratio of 66.31 and a beta of 0.79. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. Teck Resources Limited has a fifty-two week low of $28.32 and a fifty-two week high of $55.13. The firm’s 50-day simple moving average is $36.16 and its 200 day simple moving average is $40.90.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, April 24th. The basic materials company reported $0.42 EPS 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 company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. The firm’s revenue for the quarter was up 41.4% on a year-over-year basis. As a group, research analysts anticipate that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.0901 per share. The ex-dividend date is Monday, June 16th. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. This represents a $0.36 annualized dividend and a dividend yield of 0.99%. Teck Resources’s dividend payout ratio (DPR) is currently 58.62%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Bank of America upped their price objective on Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Desjardins started coverage on Teck Resources in a report on Friday, April 4th. They set a “buy” rating for the company. UBS Group reaffirmed a “neutral” rating on shares of Teck Resources in a research report on Tuesday, April 15th. National Bankshares raised shares of Teck Resources from a “sector perform” rating to an “outperform” rating in a research report on Thursday, April 24th. Finally, National Bank Financial upgraded shares of Teck Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 24th. Six equities research 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. Based on data from MarketBeat, Teck Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.11.

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.