Aigen Investment Management LP Acquires Shares of 29,566 Teck Resources Limited (NYSE:TECK)

Aigen Investment Management LP acquired a new position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 29,566 shares of the basic materials company's stock, valued at approximately $1,199,000.

Several other large investors have also made changes to their positions in the business. Principal Financial Group Inc. lifted its position in shares of Teck Resources by 21.7% during 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 last quarter. CIBC Asset Management Inc lifted its position in shares of Teck Resources by 2.0% during 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 last quarter. FMR LLC lifted 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. Regal Partners Ltd lifted its position in shares of Teck Resources by 1.4% during the 3rd quarter. Regal Partners Ltd now owns 2,728,980 shares of the basic materials company's stock worth $142,562,000 after purchasing an additional 38,949 shares during the last quarter. Finally, Swedbank AB acquired a new position in shares of Teck Resources during the 4th quarter worth about $103,878,000. Institutional investors and hedge funds own 78.06% of the company's stock.

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Analysts Set New Price Targets

Several research firms have commented on TECK. National Bank Financial cut Teck Resources from an "outperform" rating to a "sector perform" rating in a report on Tuesday, December 10th. UBS Group cut Teck Resources from a "buy" rating to a "neutral" rating in a report on Monday, November 11th. 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, Raymond James cut their price target on Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, January 22nd. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.38.

Teck Resources Price Performance

Shares of TECK stock traded down $0.99 during trading hours on Friday, hitting $39.79. The company had a trading volume of 5,048,392 shares, compared to its average volume of 3,121,607. Teck Resources Limited has a 12 month low of $37.75 and a 12 month high of $55.13. The firm has a market capitalization of $19.76 billion, a price-to-earnings ratio of 72.34 and a beta of 0.93. The firm's fifty day moving average is $41.80 and its 200 day moving average is $45.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92.

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

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.0879 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a yield of 0.88%. Teck Resources's dividend payout ratio (DPR) is presently 61.82%.

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.