Quantinno Capital Management LP Has $1.19 Million Stock Holdings in Teck Resources Limited (NYSE:TECK)

Quantinno Capital Management LP grew its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 88.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,391 shares of the basic materials company’s stock after purchasing an additional 13,757 shares during the quarter. Quantinno Capital Management LP’s holdings in Teck Resources were worth $1,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Man Group plc raised its stake in Teck Resources by 41.5% during the 4th quarter. Man Group plc now owns 143,162 shares of the basic materials company’s stock worth $5,802,000 after buying an additional 41,996 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of Teck Resources by 16.1% during the fourth quarter. Nuveen Asset Management LLC now owns 1,449,731 shares of the basic materials company’s stock valued at $58,748,000 after acquiring an additional 201,097 shares in the last quarter. Merewether Investment Management LP increased its holdings in shares of Teck Resources by 78.1% during the fourth quarter. Merewether Investment Management LP now owns 488,476 shares of the basic materials company’s stock valued at $19,798,000 after acquiring an additional 214,145 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Teck Resources by 2.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,948,924 shares of the basic materials company’s stock valued at $119,499,000 after acquiring an additional 79,396 shares in the last quarter. Finally, Hudson Bay Capital Management LP increased its holdings in shares of Teck Resources by 72.7% during the fourth quarter. Hudson Bay Capital Management LP now owns 95,000 shares of the basic materials company’s stock valued at $3,850,000 after acquiring an additional 40,000 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on TECK shares. Desjardins started coverage on Teck Resources in a report on Friday, April 4th. They set a “buy” rating for the company. National Bankshares upgraded Teck Resources from a “sector perform” rating to an “outperform” rating in a report on Thursday, April 24th. UBS Group restated a “neutral” rating on shares of Teck Resources in a report on Tuesday, April 15th. Bank of America boosted their price objective on Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday, March 10th. Finally, JPMorgan Chase & Co. lowered their price objective on Teck Resources from $50.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $64.11.

Teck Resources Stock Performance

TECK stock opened at $35.47 on Friday. The firm has a market cap of $17.48 billion, a PE ratio of 64.50 and a beta of 0.79. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average of $35.65 and a 200-day moving average of $40.51. Teck Resources Limited has a 12-month low of $28.32 and a 12-month high of $54.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.18. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $2.19 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. Teck Resources’s quarterly revenue was up 41.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 earnings per share. As a group, sell-side analysts expect that Teck Resources Limited will post 1.53 earnings per share for the current 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 issued a $0.0901 dividend. 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 1.02%. Teck Resources’s dividend payout ratio is currently 58.62%.

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.