ExodusPoint Capital Management LP Boosts Stake in Teck Resources Limited (NYSE:TECK)

ExodusPoint Capital Management LP lifted its holdings in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 32.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,563,438 shares of the basic materials company's stock after buying an additional 385,737 shares during the period. Teck Resources makes up approximately 0.4% of ExodusPoint Capital Management LP's holdings, making the stock its 25th largest position. ExodusPoint Capital Management LP owned approximately 0.31% of Teck Resources worth $63,366,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Synergy Asset Management LLC boosted its holdings in shares of Teck Resources by 77.7% in the fourth quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company's stock valued at $685,000 after acquiring an additional 7,387 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Teck Resources in the 3rd quarter valued at approximately $1,937,000. FNY Investment Advisers LLC raised its holdings in Teck Resources by 709.5% during the fourth quarter. FNY Investment Advisers LLC now owns 17,000 shares of the basic materials company's stock worth $689,000 after purchasing an additional 14,900 shares during the last quarter. XTX Topco Ltd purchased a new stake in Teck Resources during the third quarter worth $1,039,000. Finally, Groupama Asset Managment grew its holdings in Teck Resources by 6.7% in the third quarter. Groupama Asset Managment now owns 2,319,624 shares of the basic materials company's stock valued at $121,177,000 after purchasing an additional 144,889 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company's stock.

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Analysts Set New Price Targets

TECK has been the topic of several recent research reports. Raymond James decreased their price objective on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 22nd. National Bankshares reaffirmed a "sector perform" rating on shares of Teck Resources in a report on Wednesday, April 2nd. JPMorgan Chase & Co. lowered their price target on shares of Teck Resources from $55.00 to $51.00 and set an "overweight" rating on the stock in a research report on Thursday, January 16th. National Bank Financial downgraded Teck Resources from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, December 10th. Finally, Desjardins initiated coverage on Teck Resources in a report on Friday. They issued a "buy" rating for the company. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $65.22.

Teck Resources Trading Down 0.7 %

Teck Resources stock traded down $0.20 during trading on Tuesday, reaching $30.14. The company had a trading volume of 2,037,630 shares, compared to its average volume of 3,168,512. 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 firm has a market capitalization of $14.92 billion, a price-to-earnings ratio of 54.73 and a beta of 0.81. Teck Resources Limited has a 12-month low of $28.35 and a 12-month high of $55.13. The stock's 50 day moving average price is $40.48 and its two-hundred day moving average price is $44.10.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.26 by $0.07. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates 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 business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.0879 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.17%. Teck Resources's dividend payout ratio (DPR) 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.