Renaissance Technologies LLC lifted its stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 167.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 552,176 shares of the basic materials company's stock after purchasing an additional 346,000 shares during the period. Renaissance Technologies LLC owned 0.11% of Teck Resources worth $22,380,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of TECK. Stonebridge Financial Group LLC purchased a new stake in Teck Resources in the fourth quarter worth about $25,000. Global Trust Asset Management LLC bought a new position in shares of Teck Resources during the 4th quarter valued at approximately $27,000. FPC Investment Advisory Inc. purchased a new stake in Teck Resources in the 4th quarter worth approximately $27,000. Community Bank N.A. purchased a new stake in Teck Resources in the 4th quarter worth approximately $33,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Teck Resources during the third quarter valued at approximately $40,000. 78.06% of the stock is owned by institutional investors.
Teck Resources Stock Up 6.0 %
Shares of TECK opened at $33.66 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The stock has a market capitalization of $16.66 billion, a price-to-earnings ratio of 61.20 and a beta of 0.81. Teck Resources Limited has a 1 year low of $28.32 and a 1 year high of $55.13. The business's 50 day simple moving average is $39.35 and its 200-day simple moving average is $43.42.
Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.58 billion. As a group, equities analysts expect that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.
Teck Resources Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.0879 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Friday, March 14th. Teck Resources's payout ratio is 61.82%.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock. Desjardins assumed coverage on shares of Teck Resources in a research note on Friday, April 4th. They issued a "buy" rating for the company. National Bankshares reiterated a "sector perform" rating on shares of Teck Resources in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. decreased their price target on Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a report on Thursday. Bank of America upped their price objective on Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Finally, Raymond James decreased their target price on Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 22nd. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $64.11.
Read Our Latest Stock Analysis on TECK
Teck Resources Company Profile
(
Free Report)
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.
See Also
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