R Squared Ltd Acquires Shares of 2,890 Teck Resources Limited (NYSE:TECK)

R Squared Ltd bought a new position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,890 shares of the basic materials company’s stock, valued at approximately $117,000.

Several other large investors have also recently modified their holdings of the business. Principal Financial Group Inc. boosted its position in shares of Teck Resources by 21.7% in the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock valued at $388,507,000 after acquiring an additional 1,326,241 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Teck Resources by 2.6% in the third quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company’s stock worth $341,337,000 after purchasing an additional 165,759 shares during the period. AMF Tjanstepension AB boosted its stake in Teck Resources by 3.9% during the third quarter. AMF Tjanstepension AB now owns 4,552,507 shares of the basic materials company’s stock valued at $238,055,000 after buying an additional 169,476 shares during the period. FMR LLC grew its position in Teck Resources by 72.8% during the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock worth $189,848,000 after buying an additional 1,531,563 shares in the last quarter. Finally, Regal Partners Ltd raised its holdings in shares of Teck Resources by 1.4% in the 3rd quarter. Regal Partners Ltd now owns 2,728,980 shares of the basic materials company’s stock valued at $142,562,000 after acquiring an additional 38,949 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TECK shares. Scotiabank lifted their target price on shares of Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Tuesday, October 8th. UBS Group cut Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft downgraded 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. National Bank Financial cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. dropped their target price on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Teck Resources presently has an average rating of “Moderate Buy” and an average price target of $65.38.

Teck Resources Trading Up 1.4 %

NYSE TECK opened at $41.71 on Friday. Teck Resources Limited has a 12 month low of $36.50 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. The stock’s fifty day moving average price is $43.06 and its 200-day moving average price is $46.22. The stock has a market cap of $20.80 billion, a P/E ratio of 63.20 and a beta of 1.05.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a $0.0895 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.86%. Teck Resources’s dividend payout ratio is presently 53.03%.

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.