ExodusPoint Capital Management LP Boosts Position in Teck Resources Limited (NYSE:TECK)

ExodusPoint Capital Management LP lifted its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 32.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,563,438 shares of the basic materials company’s stock after purchasing an additional 385,737 shares during the quarter. Teck Resources comprises about 0.4% of ExodusPoint Capital Management LP’s holdings, making the stock its 25th biggest holding. ExodusPoint Capital Management LP’s holdings in Teck Resources were worth $63,366,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new stake in Teck Resources during the fourth quarter worth $25,000. FPC Investment Advisory Inc. purchased a new position in shares of Teck Resources during the 4th quarter worth $27,000. Global Trust Asset Management LLC acquired a new stake in shares of Teck Resources during the 4th quarter worth about $27,000. Wilmington Savings Fund Society FSB purchased a new stake in Teck Resources in the 3rd quarter valued at about $40,000. Finally, Community Bank N.A. acquired a new position in Teck Resources in the fourth quarter valued at about $33,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TECK shares. Bank of America lifted their price target 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. JPMorgan Chase & Co. dropped their target price on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. National Bank Financial cut Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Finally, Raymond James lowered their price target on 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 equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $65.22.

Teck Resources Trading Up 2.6 %

NYSE TECK opened at $37.67 on Thursday. Teck Resources Limited has a 52 week low of $35.14 and a 52 week high of $55.13. The firm has a 50 day moving average of $41.17 and a two-hundred day moving average of $44.46. 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 stock has a market capitalization of $18.64 billion, a PE ratio of 68.49 and a beta of 0.93.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its 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. 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 the consensus estimate of $2.58 billion. As a group, research analysts expect that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.0879 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.93%. Teck Resources’s payout ratio is currently 61.82%.

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.