Teck Resources Limited (NYSE:TECK) is DSC Meridian Capital LP’s 7th Largest Position

DSC Meridian Capital LP increased its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 60.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 167,746 shares of the basic materials company’s stock after buying an additional 63,300 shares during the quarter. Teck Resources comprises 2.5% of DSC Meridian Capital LP’s holdings, making the stock its 7th largest position. DSC Meridian Capital LP’s holdings in Teck Resources were worth $6,799,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Swedbank AB bought a new position in shares of Teck Resources in the 4th quarter worth about $103,878,000. FMR LLC grew its stake in shares of Teck Resources by 72.8% in the 3rd quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock worth $189,848,000 after purchasing an additional 1,531,563 shares during the last quarter. AMF Tjanstepension AB increased its position in shares of Teck Resources by 32.2% in the fourth quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company’s stock worth $244,252,000 after acquiring an additional 1,467,516 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new position in shares of Teck Resources in the third quarter worth approximately $70,549,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Teck Resources by 21.7% during 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. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Stock Up 3.0 %

Shares of NYSE TECK opened at $38.50 on Wednesday. The company has a market capitalization of $19.12 billion, a P/E ratio of 69.99 and a beta of 0.93. Teck Resources Limited has a 52-week low of $36.54 and a 52-week high of $55.13. 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 company’s 50 day moving average price is $41.74 and its 200-day moving average price is $45.16.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.58 billion. Equities analysts forecast that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given 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 0.91%. Teck Resources’s payout ratio is presently 61.82%.

Analyst Ratings Changes

TECK has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their target price 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 lowered 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. Bank of America upped their price target on shares of Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday. Finally, National Bank Financial downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Teck Resources 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.