Holocene Advisors LP Increases Stock Holdings in Teck Resources Limited (NYSE:TECK)

Holocene Advisors LP increased its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 152.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,070,377 shares of the basic materials company’s stock after acquiring an additional 1,251,203 shares during the period. Holocene Advisors LP owned approximately 0.41% of Teck Resources worth $108,156,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Concentric Capital Strategies LP increased its stake in Teck Resources by 107.4% in the 3rd quarter. Concentric Capital Strategies LP now owns 149,727 shares of the basic materials company’s stock worth $7,822,000 after acquiring an additional 77,530 shares during the last quarter. Arvin Capital Management LP grew its holdings in shares of Teck Resources by 0.9% during the third quarter. Arvin Capital Management LP now owns 247,747 shares of the basic materials company’s stock worth $12,942,000 after purchasing an additional 2,237 shares in the last quarter. Paloma Partners Management Co purchased a new stake in Teck Resources in the third quarter valued at approximately $20,896,000. Socorro Asset Management LP raised its stake in Teck Resources by 0.8% in the third quarter. Socorro Asset Management LP now owns 202,423 shares of the basic materials company’s stock valued at $10,575,000 after purchasing an additional 1,512 shares in the last quarter. Finally, Maverick Capital Ltd. bought a new stake in shares of Teck Resources during the 3rd quarter worth $1,436,000. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Price Performance

Shares of TECK stock opened at $46.68 on Monday. Teck Resources Limited has a 52-week low of $36.50 and a 52-week high of $55.13. 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 50 day moving average price of $48.77 and a 200 day moving average price of $48.38. The firm has a market capitalization of $23.91 billion, a P/E ratio of 70.73 and a beta of 1.04.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.24. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.09 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The company’s quarterly revenue was down 20.6% on a year-over-year basis. During the same quarter last year, the company earned $0.57 earnings per share. As a group, sell-side analysts predict that Teck Resources Limited will post 1.82 earnings per share for the current year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.0895 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.77%. Teck Resources’s payout ratio is 56.06%.

Analyst Ratings Changes

Several research firms have recently commented on TECK. Scotiabank raised their target price on shares of Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lowered Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research report on Friday, October 25th. StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Citigroup upgraded shares of Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $65.29.

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.