1,609,756 Shares in Teck Resources Limited (NYSE:TECK) Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership purchased a new stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,609,756 shares of the basic materials company’s stock, valued at approximately $65,197,000. Arrowstreet Capital Limited Partnership owned 0.32% of Teck Resources as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Stonebridge Financial Group LLC acquired a new position in shares of Teck Resources during the 4th quarter valued at $25,000. Global Trust Asset Management LLC acquired a new position in shares of Teck Resources during the fourth quarter valued at about $27,000. FPC Investment Advisory Inc. acquired a new position in shares of Teck Resources during the fourth quarter valued at about $27,000. Community Bank N.A. bought a new position in shares of Teck Resources during the 4th quarter worth about $33,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Teck Resources in the 3rd quarter valued at about $40,000. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Stock Performance

Shares of Teck Resources stock opened at $36.41 on Tuesday. The business’s fifty day simple moving average is $41.42 and its 200 day simple moving average is $44.57. The firm has a market capitalization of $18.02 billion, a P/E ratio of 66.20 and a beta of 0.93. Teck Resources Limited has a 12 month low of $35.14 and a 12 month high of $55.13. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16.

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

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.0879 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Friday, March 14th. Teck Resources’s payout ratio is 61.82%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Bank of America increased their price target on Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, March 10th. 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 report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their price objective on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Finally, National Bank Financial lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.