DSC Meridian Capital LP Raises Stock Holdings in Teck Resources Limited (NYSE:TECK)

DSC Meridian Capital LP increased its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 60.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,746 shares of the basic materials company’s stock after purchasing an additional 63,300 shares during the period. Teck Resources makes up 2.5% of DSC Meridian Capital LP’s portfolio, making the stock its 7th biggest position. DSC Meridian Capital LP’s holdings in Teck Resources were worth $6,799,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Stonebridge Financial Group LLC acquired a new stake in Teck Resources in the 4th quarter valued at approximately $25,000. Global Trust Asset Management LLC bought a new stake in shares of Teck Resources during the 4th quarter valued at $27,000. FPC Investment Advisory Inc. acquired a new position in shares of Teck Resources during the 4th quarter worth $27,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Teck Resources during the 3rd quarter worth $40,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of Teck Resources by 342.8% during the 4th quarter. Jones Financial Companies Lllp now owns 1,758 shares of the basic materials company’s stock worth $71,000 after buying an additional 1,361 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Up 3.0 %

TECK opened at $38.50 on Wednesday. The company has a market cap of $19.12 billion, a PE ratio of 69.99 and a beta of 0.93. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. Teck Resources Limited has a twelve month low of $36.54 and a twelve month high of $55.13. The company has a 50-day moving average price of $41.74 and a 200 day moving average price of $45.16.

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

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.0879 per share. This represents a $0.35 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources’s dividend payout ratio is currently 61.82%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. 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 report on Wednesday, January 22nd. National Bank Financial downgraded Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. cut their price target on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Finally, Bank of America lifted 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. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Teck Resources has an average rating of “Moderate Buy” and an average price target of $65.22.

About Teck Resources

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.