Jump Financial LLC Acquires 86,566 Shares of Teck Resources Limited (NYSE:TECK)

Jump Financial LLC increased its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 63.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 223,529 shares of the basic materials company’s stock after acquiring an additional 86,566 shares during the period. Jump Financial LLC’s holdings in Teck Resources were worth $9,060,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TECK. Stonebridge Financial Group LLC bought a new position in shares of Teck Resources in the fourth quarter worth approximately $25,000. Global Trust Asset Management LLC purchased a new stake in Teck Resources during the 4th quarter valued at $27,000. FPC Investment Advisory Inc. bought a new stake in Teck Resources in the 4th quarter worth $27,000. Community Bank N.A. purchased a new position in shares of Teck Resources in the fourth quarter valued at about $33,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Teck Resources during the third quarter valued at about $40,000. Institutional investors own 78.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TECK. Desjardins initiated coverage on Teck Resources in a research note on Friday, April 4th. They issued a “buy” rating on the stock. Raymond James reduced their target price on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their price target 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. Veritas upgraded shares of Teck Resources to a “hold” rating in a report on Friday, April 11th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Teck Resources in a research note on Tuesday. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Teck Resources has a consensus rating of “Moderate Buy” and an average price target of $64.11.

Teck Resources Stock Performance

Shares of TECK opened at $33.85 on Wednesday. Teck Resources Limited has a 52 week low of $28.32 and a 52 week high of $55.13. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The stock has a market cap of $16.75 billion, a P/E ratio of 61.55 and a beta of 0.81. The business’s 50 day moving average price is $39.00 and its 200-day moving average price is $43.15.

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

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.0879 per share. The ex-dividend date was Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a yield of 1.04%. Teck Resources’s dividend payout ratio is currently 61.82%.

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.