Teck Resources Limited (NYSE:TECK) Shares Purchased by Holocene Advisors LP

Holocene Advisors LP increased its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 152.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,070,377 shares of the basic materials company’s stock after acquiring an additional 1,251,203 shares during the period. Holocene Advisors LP’s holdings in Teck Resources were worth $108,156,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Country Club Bank purchased a new position in Teck Resources in the 2nd quarter valued at approximately $1,747,000. Atria Investments Inc acquired a new stake in shares of Teck Resources during the 1st quarter worth about $1,141,000. Klein Pavlis & Peasley Financial Inc. boosted its holdings in Teck Resources by 233.3% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 28,000 shares of the basic materials company’s stock valued at $1,341,000 after purchasing an additional 19,600 shares in the last quarter. CIBC Asset Management Inc increased its stake in Teck Resources by 2.6% in the third quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company’s stock valued at $341,337,000 after purchasing an additional 165,759 shares during the last quarter. Finally, Forest Avenue Capital Management LP raised its holdings in Teck Resources by 3.7% during the third quarter. Forest Avenue Capital Management LP now owns 720,920 shares of the basic materials company’s stock worth $37,661,000 after purchasing an additional 25,430 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TECK has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Citigroup raised Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. Scotiabank boosted their target price on Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a report on Tuesday, October 8th. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research note on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $65.29.

Teck Resources Price Performance

Teck Resources stock opened at $46.68 on Monday. 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 firm has a market capitalization of $23.91 billion, a P/E ratio of 70.73 and a beta of 1.04. The firm has a fifty day moving average of $48.77 and a 200-day moving average of $48.38. Teck Resources Limited has a 52-week low of $36.50 and a 52-week high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period last year, the business posted $0.57 EPS. The company’s revenue was down 20.6% on a year-over-year basis. As a group, analysts predict that Teck Resources Limited will post 1.82 EPS for the current year.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $0.0895 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.77%. Teck Resources’s dividend payout ratio (DPR) is 56.06%.

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.