Virtu Financial LLC Takes Position in Teck Resources Limited (NYSE:TECK)

Virtu Financial LLC purchased a new position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 10,201 shares of the basic materials company’s stock, valued at approximately $413,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TECK. Stonebridge Financial Group LLC bought a new stake in Teck Resources in the fourth quarter valued at $25,000. FPC Investment Advisory Inc. bought a new stake in Teck Resources in the 4th quarter valued at about $27,000. Global Trust Asset Management LLC acquired a new position in Teck Resources during the 4th quarter valued at about $27,000. Wilmington Savings Fund Society FSB bought a new position in Teck Resources in the 3rd quarter worth about $40,000. Finally, Jones Financial Companies Lllp increased its stake in shares of Teck Resources by 342.8% in the fourth quarter. Jones Financial Companies Lllp now owns 1,758 shares of the basic materials company’s stock valued at $71,000 after purchasing an additional 1,361 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. National Bank Financial downgraded Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Raymond James decreased their price target on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. cut 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. Finally, Bank of America increased their target price on shares of Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Teck Resources has a consensus rating of “Moderate Buy” and a consensus target price of $65.22.

Teck Resources Stock Down 6.1 %

TECK stock opened at $40.12 on Thursday. Teck Resources Limited has a 12 month low of $36.54 and a 12 month high of $55.13. The firm has a 50 day simple moving average of $41.73 and a 200 day simple moving average of $44.72. The firm has a market cap of $20.19 billion, a PE ratio of 72.94 and a beta of 0.93. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.58 billion. Equities research analysts forecast 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 will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.0879 per share. The ex-dividend date is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a yield of 0.88%. Teck Resources’s payout ratio is presently 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.