Teck Resources Limited (NYSE:TECK) Position Lifted by Senator Investment Group LP

Senator Investment Group LP boosted its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 147.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 870,988 shares of the basic materials company's stock after acquiring an additional 518,377 shares during the period. Senator Investment Group LP owned about 0.17% of Teck Resources worth $35,301,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Stonebridge Financial Group LLC acquired a new stake in shares of Teck Resources during the 4th quarter worth approximately $25,000. Global Trust Asset Management LLC purchased a new stake in shares of Teck Resources in the 4th quarter valued at $27,000. FPC Investment Advisory Inc. acquired a new position in Teck Resources during the 4th quarter worth about $27,000. Community Bank N.A. purchased a new position in Teck Resources during the 4th quarter valued at about $33,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Teck Resources in the 3rd quarter valued at about $40,000. 78.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on TECK shares. UBS Group reissued a "neutral" rating on shares of Teck Resources in a research report on Tuesday, April 15th. BMO Capital Markets began coverage on Teck Resources in a research report on Wednesday, April 16th. They set an "outperform" rating on the stock. Desjardins began coverage on Teck Resources in a report on Friday, April 4th. They issued a "buy" rating for the company. Raymond James cut their price target on Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, January 22nd. Finally, Veritas upgraded Teck Resources to a "hold" rating in a research note on Friday, April 11th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $64.11.

Teck Resources Trading Down 1.6 %

TECK stock traded down $0.59 during midday trading on Friday, hitting $35.65. The stock had a trading volume of 3,668,027 shares, compared to its average volume of 3,148,388. The company's 50-day moving average price is $37.56 and its 200 day moving average price is $42.25. 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 firm has a market cap of $17.57 billion, a PE ratio of 64.82 and a beta of 0.81. Teck Resources Limited has a 12-month low of $28.32 and a 12-month high of $55.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.18. The business had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $2.19 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. On average, equities research analysts predict that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $0.0901 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.36 annualized dividend and a dividend yield of 1.01%. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio is presently 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.