Teck Resources Limited (NYSE:TECK) Holdings Raised by Point72 Europe London LLP

Point72 Europe London LLP grew its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 51.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 43,400 shares of the basic materials company’s stock after buying an additional 14,700 shares during the quarter. Point72 Europe London LLP’s holdings in Teck Resources were worth $1,759,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TECK. Vanguard Group Inc. boosted its position in shares of Teck Resources by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company’s stock valued at $783,153,000 after acquiring an additional 58,985 shares in the last quarter. Amundi lifted its stake in Teck Resources by 5.6% in the fourth quarter. Amundi now owns 14,949,233 shares of the basic materials company’s stock valued at $619,765,000 after buying an additional 791,725 shares during the period. Norges Bank bought a new stake in Teck Resources in the fourth quarter valued at approximately $470,101,000. Invesco Ltd. grew its stake in Teck Resources by 4.7% in the fourth quarter. Invesco Ltd. now owns 7,711,727 shares of the basic materials company’s stock valued at $312,556,000 after acquiring an additional 347,235 shares during the period. Finally, CIBC Asset Management Inc grew its stake in Teck Resources by 2.0% in the fourth quarter. CIBC Asset Management Inc now owns 6,623,228 shares of the basic materials company’s stock valued at $269,956,000 after acquiring an additional 127,348 shares during the period. Institutional investors own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TECK. BMO Capital Markets began coverage on shares of Teck Resources in a research note on Wednesday, April 16th. They issued an “outperform” rating on the stock. UBS Group reaffirmed a “neutral” rating on shares of Teck Resources in a research note on Tuesday, April 15th. Bank of America lifted their price target on shares of Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Desjardins initiated coverage on Teck Resources in a research note on Friday, April 4th. They issued a “buy” rating on the stock. Finally, National Bankshares raised Teck Resources from a “sector perform” rating to an “outperform” rating in a research note on Thursday, April 24th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $64.11.

Teck Resources Stock Performance

NYSE TECK opened at $36.47 on Friday. The firm has a 50-day moving average of $36.16 and a 200-day moving average of $40.90. 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 stock has a market cap of $17.97 billion, a PE ratio of 66.31 and a beta of 0.79. Teck Resources Limited has a 52-week low of $28.32 and a 52-week high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.18. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. Teck Resources’s quarterly revenue was up 41.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.75 EPS. On average, sell-side analysts anticipate that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.0901 per share. The ex-dividend date is Monday, June 16th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.99%. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio (DPR) is 58.62%.

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.