Teck Resources Ltd $TECK Shares Acquired by Magnetar Financial LLC

Magnetar Financial LLC lifted its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 126.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,881,954 shares of the basic materials company’s stock after acquiring an additional 1,050,640 shares during the period. Teck Resources makes up approximately 0.9% of Magnetar Financial LLC’s investment portfolio, making the stock its 10th largest holding. Magnetar Financial LLC’s holdings in Teck Resources were worth $90,127,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Regal Partners Ltd grew its holdings in shares of Teck Resources by 14.8% during the third quarter. Regal Partners Ltd now owns 3,481,836 shares of the basic materials company’s stock valued at $152,818,000 after buying an additional 448,081 shares during the last quarter. Union Bancaire Privee UBP SA increased its holdings in shares of Teck Resources by 172.8% in the fourth quarter. Union Bancaire Privee UBP SA now owns 23,560 shares of the basic materials company’s stock valued at $1,128,000 after purchasing an additional 14,924 shares during the period. 44 Wealth Management LLC raised its stake in shares of Teck Resources by 250.8% in the third quarter. 44 Wealth Management LLC now owns 31,077 shares of the basic materials company’s stock worth $1,364,000 after purchasing an additional 22,219 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Teck Resources by 2.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,916,856 shares of the basic materials company’s stock worth $84,068,000 after purchasing an additional 37,419 shares during the last quarter. Finally, Temasek Holdings Private Ltd lifted its holdings in shares of Teck Resources by 1.1% during the fourth quarter. Temasek Holdings Private Ltd now owns 5,307,384 shares of the basic materials company’s stock worth $254,171,000 after purchasing an additional 57,380 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Stock Up 1.3%

Teck Resources stock opened at $66.99 on Wednesday. The business’s 50-day moving average price is $61.49 and its 200 day moving average price is $54.78. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13. The firm has a market cap of $32.30 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 4.01 and a beta of 0.89. Teck Resources Ltd has a 52 week low of $30.98 and a 52 week high of $71.25.

Teck Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, June 15th. Teck Resources’s dividend payout ratio is currently 13.19%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Benchmark upped their target price on Teck Resources from $48.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Wall Street Zen upgraded shares of Teck Resources to a “buy” rating in a research note on Saturday, May 16th. Veritas downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. Zacks Research cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Finally, Scotiabank restated a “sector perform” rating on shares of Teck Resources in a research report on Monday. Five analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $59.17.

Teck Resources Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.