BNP Paribas Financial Markets Increases Position in Teck Resources Limited (NYSE:TECK)

BNP Paribas Financial Markets raised its position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 194.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 141,593 shares of the basic materials company's stock after buying an additional 93,459 shares during the period. BNP Paribas Financial Markets' holdings in Teck Resources were worth $7,397,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of TECK. Headlands Technologies LLC acquired a new stake in shares of Teck Resources in the second quarter worth approximately $38,000. Eastern Bank acquired a new stake in Teck Resources in the 3rd quarter valued at about $39,000. Bruce G. Allen Investments LLC lifted its stake in Teck Resources by 77.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company's stock worth $46,000 after purchasing an additional 383 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Teck Resources by 583.1% during the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company's stock worth $48,000 after purchasing an additional 898 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Teck Resources by 69.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company's stock valued at $52,000 after purchasing an additional 409 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft lowered Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 price objective for the company. in a research report on Friday, October 25th. Citigroup raised shares of Teck Resources to a "hold" rating in a research report on Wednesday, October 2nd. StockNews.com upgraded shares of Teck Resources from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. UBS Group lowered Teck Resources from a "buy" rating to a "neutral" rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. decreased their price objective on Teck Resources from $57.00 to $55.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $65.29.

Teck Resources Stock Performance

Shares of TECK stock traded up $0.32 during mid-day trading on Tuesday, hitting $46.45. The stock had a trading volume of 2,103,648 shares, compared to its average volume of 3,351,662. The firm has a market cap of $23.80 billion, a PE ratio of 69.88 and a beta of 1.03. The company's 50-day simple moving average is $48.71 and its 200-day simple moving average is $48.34. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. Teck Resources Limited has a fifty-two week low of $36.50 and a fifty-two week high of $55.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.36 by $0.24. The firm had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.09 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The business's revenue for the quarter was down 20.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.57 earnings per share. Sell-side analysts anticipate that Teck Resources Limited will post 1.82 earnings per share for the current year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.0895 per share. The ex-dividend date is Friday, December 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.77%. Teck Resources's dividend payout ratio is currently 56.06%.

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.