Teck Resources Limited (NYSE:TECK) Shares Acquired by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP lifted its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 32.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,563,438 shares of the basic materials company’s stock after acquiring an additional 385,737 shares during the period. Teck Resources accounts for approximately 0.4% of ExodusPoint Capital Management LP’s investment portfolio, making the stock its 25th biggest holding. ExodusPoint Capital Management LP owned about 0.31% of Teck Resources worth $63,366,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TECK. Synergy Asset Management LLC raised its holdings in shares of Teck Resources by 77.7% during the fourth quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company’s stock worth $685,000 after purchasing an additional 7,387 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Teck Resources during the 3rd quarter valued at about $1,937,000. FNY Investment Advisers LLC lifted its holdings in shares of Teck Resources by 709.5% in the 4th quarter. FNY Investment Advisers LLC now owns 17,000 shares of the basic materials company’s stock valued at $689,000 after buying an additional 14,900 shares during the period. Groupama Asset Managment boosted its stake in shares of Teck Resources by 6.7% in the third quarter. Groupama Asset Managment now owns 2,319,624 shares of the basic materials company’s stock worth $121,177,000 after buying an additional 144,889 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Teck Resources during the third quarter worth about $1,039,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Wall Street Analyst Weigh In

TECK has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Raymond James cut their price objective on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. Bank of America increased their target price on shares of Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Finally, National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.22.

Teck Resources Stock Performance

Shares of NYSE:TECK opened at $37.67 on Thursday. The business’s 50 day moving average price is $41.17 and its 200-day moving average price is $44.46. Teck Resources Limited has a 1 year low of $35.14 and a 1 year high of $55.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The firm has a market capitalization of $18.64 billion, a PE ratio of 68.49 and a beta of 0.93.

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, topping the consensus estimate of $0.26 by $0.07. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. As a group, equities research analysts expect that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.0879 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a yield of 0.93%. Teck Resources’s payout ratio is 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.