Quantbot Technologies LP Has $2.94 Million Position in Teck Resources Limited (NYSE:TECK)

Quantbot Technologies LP grew its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 180.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,243 shares of the basic materials company’s stock after purchasing an additional 41,331 shares during the quarter. Quantbot Technologies LP’s holdings in Teck Resources were worth $2,941,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Hexagon Capital Partners LLC raised its holdings in Teck Resources by 143.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 386 shares during the period. Creekmur Asset Management LLC bought a new stake in Teck Resources during the 4th quarter valued at approximately $35,000. Optiver Holding B.V. grew its holdings in Teck Resources by 81.9% in the 4th quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company’s stock valued at $41,000 after buying an additional 438 shares during the last quarter. First Horizon Advisors Inc. increased its position in Teck Resources by 69.4% in the 4th quarter. First Horizon Advisors Inc. now owns 1,162 shares of the basic materials company’s stock worth $49,000 after buying an additional 476 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of Teck Resources by 187.3% during the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the basic materials company’s stock worth $64,000 after buying an additional 974 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TECK has been the topic of several research analyst reports. Morgan Stanley raised their price objective on shares of Teck Resources from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, June 21st. CIBC boosted their price target on Teck Resources from $70.00 to $80.00 and gave the company an “outperformer” rating in a research note on Friday. Eight Capital downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Finally, Benchmark raised their target price on Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Teck Resources currently has a consensus rating of “Moderate Buy” and an average price target of $62.33.

Teck Resources Price Performance

Shares of NYSE TECK traded up $1.27 during mid-day trading on Friday, hitting $50.78. 6,407,315 shares of the stock were exchanged, compared to its average volume of 2,249,855. Teck Resources Limited has a twelve month low of $34.38 and a twelve month high of $55.13. The stock’s fifty day simple moving average is $49.94 and its two-hundred day simple moving average is $44.98. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.49. The company has a market cap of $25.94 billion, a P/E ratio of 22.47, a PEG ratio of 11.67 and a beta of 1.05.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.31). The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.99 billion. Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. As a group, analysts forecast that Teck Resources Limited will post 2.05 EPS for the current fiscal year.

Teck Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.625 per share. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. This represents a $2.50 annualized dividend and a dividend yield of 4.92%. The ex-dividend date is Friday, September 13th. Teck Resources’s dividend payout ratio is 16.37%.

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.