Polymer Capital Management US LLC Takes $632,000 Position in Teck Resources Limited (NYSE:TECK)

Polymer Capital Management US LLC bought a new position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 15,600 shares of the basic materials company's stock, valued at approximately $632,000.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Teck Resources by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company's stock valued at $783,153,000 after purchasing an additional 58,985 shares in the last quarter. Amundi raised its position in Teck Resources by 5.6% during the fourth quarter. Amundi now owns 14,949,233 shares of the basic materials company's stock valued at $619,765,000 after purchasing an additional 791,725 shares during the period. Norges Bank bought a new stake in shares of Teck Resources in the 4th quarter valued at approximately $470,101,000. Principal Financial Group Inc. boosted its holdings in shares of Teck Resources by 21.7% in the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock worth $388,507,000 after purchasing an additional 1,326,241 shares during the period. Finally, CIBC Asset Management Inc raised its position in Teck Resources by 2.0% in the 4th quarter. CIBC Asset Management Inc now owns 6,623,228 shares of the basic materials company's stock worth $269,956,000 after purchasing an additional 127,348 shares during the period. Institutional investors own 78.06% of the company's stock.

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Teck Resources Trading Up 6.0 %

Shares of TECK stock traded up $1.91 during trading hours on Friday, hitting $33.66. The company had a trading volume of 5,399,661 shares, compared to its average volume of 3,204,283. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The stock has a market capitalization of $16.66 billion, a PE ratio of 61.20 and a beta of 0.81. The company's fifty day moving average is $39.35 and its 200 day moving average is $43.42. Teck Resources Limited has a fifty-two week low of $28.32 and a fifty-two week high of $55.13.

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

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.0879 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Friday, March 14th. Teck Resources's dividend payout ratio (DPR) is currently 61.82%.

Analyst Ratings Changes

TECK has been the topic of a number of research analyst reports. National Bankshares restated a "sector perform" rating on shares of Teck Resources in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. cut their price target on Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a report on Thursday. Raymond James decreased their price target on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a research report on Wednesday, January 22nd. Bank of America increased their target price 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. Finally, Desjardins began coverage on shares of Teck Resources in a report on Friday, April 4th. They issued a "buy" rating on the stock. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $64.11.

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.