Virtu Financial LLC Acquires Shares of 10,201 Teck Resources Limited (NYSE:TECK)

Virtu Financial LLC purchased a new position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,201 shares of the basic materials company's stock, valued at approximately $413,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TECK. Amundi lifted its stake in Teck Resources by 5.6% in the 4th quarter. Amundi now owns 14,949,233 shares of the basic materials company's stock worth $619,765,000 after purchasing an additional 791,725 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Teck Resources by 21.7% in the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock worth $388,507,000 after purchasing an additional 1,326,241 shares during the period. CIBC Asset Management Inc raised its position in shares of Teck Resources by 2.0% in the fourth quarter. CIBC Asset Management Inc now owns 6,623,228 shares of the basic materials company's stock worth $269,956,000 after buying an additional 127,348 shares in the last quarter. AMF Tjanstepension AB boosted its stake in Teck Resources by 32.2% during the fourth quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company's stock valued at $244,252,000 after buying an additional 1,467,516 shares during the period. Finally, FMR LLC grew its position in Teck Resources by 72.8% during the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company's stock worth $189,848,000 after buying an additional 1,531,563 shares in the last quarter. 78.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on TECK. Bank of America boosted their price objective on Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Monday, March 10th. JPMorgan Chase & Co. cut their price target on shares of Teck Resources from $55.00 to $51.00 and set an "overweight" rating for the company in a research note on Thursday, January 16th. Raymond James decreased their price target 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. Finally, National Bank Financial downgraded shares of Teck Resources from an "outperform" rating to a "sector perform" rating in a report on Tuesday, December 10th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $65.22.

Teck Resources Trading Down 4.8 %

Teck Resources stock traded down $1.89 during trading hours on Friday, reaching $37.43. The stock had a trading volume of 4,462,011 shares, compared to its average volume of 3,157,550. The company has a fifty day simple moving average of $41.56 and a 200-day simple moving average of $44.64. Teck Resources Limited has a 52 week low of $36.54 and a 52 week high of $55.13. The stock has a market cap of $18.52 billion, a PE ratio of 68.05 and a beta of 0.93. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. The company had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. Analysts forecast that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.0879 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.94%. Teck Resources's dividend payout ratio is presently 61.82%.

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.