Nekton Capital Ltd. Increases Position in Teck Resources Limited (NYSE:TECK)

Nekton Capital Ltd. increased its position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 99.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 130,892 shares of the basic materials company's stock after purchasing an additional 65,151 shares during the quarter. Teck Resources makes up 14.0% of Nekton Capital Ltd.'s holdings, making the stock its 4th largest position. Nekton Capital Ltd.'s holdings in Teck Resources were worth $5,305,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Hsbc Holdings PLC grew its stake in Teck Resources by 24.9% in the 4th quarter. Hsbc Holdings PLC now owns 332,153 shares of the basic materials company's stock valued at $13,463,000 after buying an additional 66,302 shares during the last quarter. J. Safra Sarasin Holding AG grew its stake in Teck Resources by 35.5% in the 4th quarter. J. Safra Sarasin Holding AG now owns 24,475 shares of the basic materials company's stock valued at $992,000 after buying an additional 6,407 shares during the last quarter. State of Tennessee Department of Treasury grew its stake in Teck Resources by 0.7% in the 4th quarter. State of Tennessee Department of Treasury now owns 265,588 shares of the basic materials company's stock valued at $10,762,000 after buying an additional 1,731 shares during the last quarter. Senator Investment Group LP grew its stake in Teck Resources by 147.0% in the 4th quarter. Senator Investment Group LP now owns 870,988 shares of the basic materials company's stock valued at $35,301,000 after buying an additional 518,377 shares during the last quarter. Finally, TD Waterhouse Canada Inc. grew its stake in Teck Resources by 0.8% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,815,851 shares of the basic materials company's stock valued at $73,418,000 after buying an additional 14,737 shares during the last quarter. 78.06% of the stock is owned by institutional investors.

Teck Resources Trading Down 1.6 %

Shares of TECK stock traded down $0.59 during trading hours on Friday, hitting $35.65. 3,668,027 shares of the company's stock traded hands, compared to its average volume of 3,141,630. The stock's 50 day simple moving average is $37.56 and its 200 day simple moving average is $42.15. The stock 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. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16.

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

Teck Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.0901 per share. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date is Monday, June 16th. This represents a $0.36 annualized dividend and a dividend yield of 1.01%. Teck Resources's dividend payout ratio is presently 61.82%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. BMO Capital Markets assumed coverage on shares of Teck Resources in a research report on Wednesday, April 16th. They set an "outperform" rating on the stock. Bank of America increased 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. National Bankshares upgraded shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a research report on Thursday. Raymond James reduced their price target 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. Finally, National Bank Financial upgraded shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $64.11.

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.