CenterBook Partners LP Makes New $2 Million Investment in Teck Resources Limited (NYSE:TECK)

CenterBook Partners LP purchased a new position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 49,239 shares of the basic materials company's stock, valued at approximately $1,996,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TECK. Synergy Asset Management LLC raised its position in shares of Teck Resources by 77.7% in the 4th quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company's stock valued at $685,000 after purchasing an additional 7,387 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Teck Resources in the third quarter valued at $1,937,000. FNY Investment Advisers LLC grew its holdings in Teck Resources by 709.5% during the 4th quarter. FNY Investment Advisers LLC now owns 17,000 shares of the basic materials company's stock worth $689,000 after acquiring an additional 14,900 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Teck Resources by 40.1% in the 3rd quarter. Toronto Dominion Bank now owns 903,132 shares of the basic materials company's stock worth $47,180,000 after purchasing an additional 258,455 shares during the last quarter. Finally, Douglas Lane & Associates LLC raised its stake in shares of Teck Resources by 10.6% in the 4th quarter. Douglas Lane & Associates LLC now owns 950,612 shares of the basic materials company's stock valued at $38,528,000 after purchasing an additional 91,370 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company's stock.

Teck Resources Trading Up 0.4 %

TECK stock traded up $0.13 during mid-day trading on Tuesday, reaching $33.86. 768,443 shares of the stock traded hands, compared to its average volume of 3,189,697. Teck Resources Limited has a 52-week low of $28.32 and a 52-week high of $55.13. The stock's fifty day moving average is $39.18 and its 200-day moving average is $43.22. The company has a market cap of $16.76 billion, a P/E ratio of 61.56 and a beta of 0.81. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16.

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

Teck Resources Cuts Dividend

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

Analyst Ratings Changes

Several brokerages have recently commented on TECK. Desjardins initiated coverage on Teck Resources in a research report on Friday, April 4th. They issued a "buy" rating for the company. Bank of America upped their target price on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. JPMorgan Chase & Co. cut their price objective on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. National Bankshares reaffirmed a "sector perform" rating on shares of Teck Resources in a research note on Wednesday, April 2nd. Finally, Raymond James lowered their price objective on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 22nd. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $64.11.

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.