Silphium Asset Management Ltd Makes New $2.03 Million Investment in Teck Resources Limited (NYSE:TECK)

Silphium Asset Management Ltd bought a new position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 50,000 shares of the basic materials company's stock, valued at approximately $2,026,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new stake in Teck Resources in the fourth quarter valued at approximately $25,000. Global Trust Asset Management LLC bought a new position in shares of Teck Resources in the 4th quarter worth $27,000. FPC Investment Advisory Inc. purchased a new stake in shares of Teck Resources during the 4th quarter valued at $27,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Teck Resources during the 3rd quarter worth $40,000. Finally, Jones Financial Companies Lllp grew its position in Teck Resources by 342.8% in the fourth quarter. Jones Financial Companies Lllp now owns 1,758 shares of the basic materials company's stock worth $71,000 after acquiring an additional 1,361 shares in the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Trading Down 1.8 %

TECK stock traded down $0.76 on Thursday, reaching $40.79. The company's stock had a trading volume of 3,392,235 shares, compared to its average volume of 3,113,947. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The business has a fifty day simple moving average of $41.82 and a two-hundred day simple moving average of $45.38. The firm has a market cap of $20.25 billion, a PE ratio of 74.16 and a beta of 0.93. Teck Resources Limited has a 12-month low of $37.75 and a 12-month high of $55.13.

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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, topping analysts' consensus estimates of $0.26 by $0.07. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. As a group, research analysts forecast that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

The company 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 annualized dividend and a dividend yield of 0.86%. Teck Resources's dividend payout ratio is presently 61.82%.

Analyst Ratings Changes

A number of research firms have recently issued reports 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 shares of Teck Resources from a "buy" rating to a "neutral" rating in a research report on Monday, November 11th. JPMorgan Chase & Co. lowered their price objective on shares of 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 reduced their target price on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, January 22nd. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $65.38.

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.