Paloma Partners Management Co Takes Position in Teck Resources Limited (NYSE:TECK)

Paloma Partners Management Co bought a new stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 400,000 shares of the basic materials company's stock, valued at approximately $20,896,000. Teck Resources makes up 0.6% of Paloma Partners Management Co's portfolio, making the stock its 22nd biggest holding. Paloma Partners Management Co owned about 0.08% of Teck Resources as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. AMF Tjanstepension AB raised its position in shares of Teck Resources by 846.6% during the 2nd quarter. AMF Tjanstepension AB now owns 4,383,031 shares of the basic materials company's stock valued at $210,034,000 after buying an additional 3,919,984 shares during the period. TD Asset Management Inc grew its holdings in shares of Teck Resources by 49.0% during the 2nd quarter. TD Asset Management Inc now owns 4,950,816 shares of the basic materials company's stock worth $237,202,000 after purchasing an additional 1,629,149 shares during the period. FMR LLC increased its position in shares of Teck Resources by 72.8% during the 3rd quarter. FMR LLC now owns 3,634,430 shares of the basic materials company's stock worth $189,848,000 after purchasing an additional 1,531,563 shares during the last quarter. Principal Financial Group Inc. raised its holdings in 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 valued at $388,507,000 after buying an additional 1,326,241 shares during the period. Finally, National Bank of Canada FI lifted its position in Teck Resources by 48.4% in the second quarter. National Bank of Canada FI now owns 3,934,663 shares of the basic materials company's stock valued at $188,111,000 after buying an additional 1,283,876 shares during the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Stock Down 1.9 %

Teck Resources stock traded down $0.87 during midday trading on Monday, reaching $45.81. The company's stock had a trading volume of 1,400,245 shares, compared to its average volume of 3,351,287. The business has a 50-day simple moving average of $48.77 and a 200-day simple moving average of $48.38. The company has a market cap of $23.47 billion, a P/E ratio of 70.73 and a beta of 1.04. Teck Resources Limited has a fifty-two week low of $36.50 and a fifty-two week high of $55.13. 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 (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter last year, the company posted $0.57 earnings per share. The business's quarterly revenue was down 20.6% compared to the same quarter last year. On average, research analysts expect that Teck Resources Limited will post 1.82 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.0895 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, December 13th. Teck Resources's dividend payout ratio is currently 56.06%.

Wall Street Analyst Weigh In

TECK has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Teck Resources from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. cut 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 note on Friday, October 25th. Deutsche Bank Aktiengesellschaft lowered Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 price objective on the stock. in a research report on Friday, October 25th. Citigroup upgraded Teck Resources to a "hold" rating in a research note on Wednesday, October 2nd. Finally, UBS Group cut Teck Resources from a "buy" rating to a "neutral" rating in a research note on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Teck Resources currently has a consensus rating of "Moderate Buy" and an average target price of $65.29.

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.