Teck Resources Limited (NYSE:TECK) Stock Position Boosted by Nekton Capital Ltd.

Nekton Capital Ltd. raised its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 99.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 130,892 shares of the basic materials company’s stock after buying an additional 65,151 shares during the quarter. Teck Resources comprises about 14.0% of Nekton Capital Ltd.’s investment portfolio, making the stock its 4th largest holding. Nekton Capital Ltd.’s holdings in Teck Resources were worth $5,305,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Stonebridge Financial Group LLC acquired a new stake in Teck Resources in the fourth quarter worth about $25,000. Global Trust Asset Management LLC purchased a new stake in Teck Resources during the 4th quarter worth approximately $27,000. FPC Investment Advisory Inc. purchased a new stake in Teck Resources during the 4th quarter worth approximately $27,000. Community Bank N.A. acquired a new position in Teck Resources during the 4th quarter valued at approximately $33,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Teck Resources in the third quarter worth $40,000. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Stock Down 0.6 %

TECK opened at $32.72 on Tuesday. The company has a fifty day moving average of $38.21 and a two-hundred day moving average of $42.56. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. Teck Resources Limited has a fifty-two week low of $28.32 and a fifty-two week high of $55.13. The stock has a market capitalization of $16.19 billion, a price-to-earnings ratio of 59.49 and a beta of 0.81.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.58 billion. On average, research analysts expect that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.0879 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.07%. Teck Resources’s dividend payout ratio (DPR) is 61.82%.

Analyst Ratings Changes

TECK has been the topic of several research reports. Raymond James cut their target price on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. reduced their price objective on Teck Resources from $50.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Bank of America upped 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. National Bankshares restated a “sector perform” rating on shares of Teck Resources in a research note on Wednesday, April 2nd. Finally, Veritas upgraded shares of Teck Resources to a “hold” rating in a research note on Friday, April 11th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Teck Resources presently has an average rating of “Moderate Buy” and an average target price of $64.11.

Teck Resources Company 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.