High Ground Investment Management LLP Grows Holdings in Teck Resources Limited (NYSE:TECK)

High Ground Investment Management LLP raised its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 21.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 114,705 shares of the basic materials company’s stock after purchasing an additional 20,000 shares during the period. Teck Resources makes up about 1.4% of High Ground Investment Management LLP’s investment portfolio, making the stock its 8th biggest holding. High Ground Investment Management LLP’s holdings in Teck Resources were worth $4,649,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TECK. Synergy Asset Management LLC raised its holdings in Teck Resources by 77.7% during the 4th quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company’s stock worth $685,000 after buying an additional 7,387 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Teck Resources during the third quarter worth $1,937,000. Paloma Partners Management Co acquired a new stake in shares of Teck Resources during the third quarter worth $20,896,000. FNY Investment Advisers LLC lifted its position in Teck Resources by 709.5% in the 4th quarter. FNY Investment Advisers LLC now owns 17,000 shares of the basic materials company’s stock valued at $689,000 after acquiring an additional 14,900 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Teck Resources by 194.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 141,593 shares of the basic materials company’s stock valued at $7,397,000 after acquiring an additional 93,459 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Price Performance

Shares of TECK opened at $39.35 on Friday. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $41.67 and its 200 day simple moving average is $44.69. Teck Resources Limited has a 1-year low of $36.54 and a 1-year high of $55.13. The company has a market cap of $19.80 billion, a price-to-earnings ratio of 71.54 and a beta of 0.93.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, topping 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 company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.58 billion. On average, research analysts forecast that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.0879 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 annualized dividend and a yield of 0.89%. Teck Resources’s dividend payout ratio is 61.82%.

Analysts Set New Price Targets

Several research firms have issued reports on TECK. National Bank Financial downgraded Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Bank of America lifted their target price on Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Raymond James reduced their price target on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating, seven have issued 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 target price of $65.22.

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.