Quantbot Technologies LP Purchases Shares of 54,971 Teck Resources Limited (NYSE:TECK)

Quantbot Technologies LP acquired a new stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 54,971 shares of the basic materials company's stock, valued at approximately $2,228,000.

A number of other institutional investors and hedge funds have also made changes to their positions in TECK. PNC Financial Services Group Inc. grew its position in Teck Resources by 2.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the basic materials company's stock valued at $471,000 after buying an additional 243 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Teck Resources by 2.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 9,809 shares of the basic materials company's stock valued at $398,000 after acquiring an additional 279 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Teck Resources by 6.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,844 shares of the basic materials company's stock worth $196,000 after acquiring an additional 297 shares during the period. Commonwealth Equity Services LLC raised its holdings in Teck Resources by 2.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company's stock worth $566,000 after purchasing an additional 302 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in Teck Resources by 7.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company's stock valued at $198,000 after purchasing an additional 327 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. cut their target price on Teck Resources from $55.00 to $51.00 and set an "overweight" rating for the company in a research note on Thursday, January 16th. Bank of America boosted 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. Raymond James reduced their price objective on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a research note on Wednesday, January 22nd. Finally, National Bank Financial downgraded shares of Teck Resources from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Teck Resources currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.22.

Teck Resources Trading Down 1.9 %

Shares of NYSE TECK traded down $0.77 on Thursday, reaching $39.35. 3,712,956 shares of the company traded hands, compared to its average volume of 3,116,398. The stock has a market capitalization of $19.80 billion, a PE ratio of 71.54 and a beta of 0.93. Teck Resources Limited has a fifty-two week low of $36.54 and a fifty-two week high of $55.13. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average of $41.73 and a 200 day moving average of $44.72.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 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 analyst estimates of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. On average, equities research analysts forecast that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.0879 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Friday, March 14th. Teck Resources's payout ratio is currently 61.82%.

About Teck Resources

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.