49,239 Shares in Teck Resources Limited (NYSE:TECK) Purchased by CenterBook Partners LP

CenterBook Partners LP bought a new stake 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 Securities and Exchange Commission (SEC). The institutional investor bought 49,239 shares of the basic materials company’s stock, valued at approximately $1,996,000.

Other institutional investors have also recently bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new stake in Teck Resources during the 4th quarter worth approximately $25,000. Global Trust Asset Management LLC bought a new position in Teck Resources during the fourth quarter worth about $27,000. FPC Investment Advisory Inc. acquired a new stake in Teck Resources during the 4th quarter valued at $27,000. Community Bank N.A. bought a new position in shares of Teck Resources during the fourth quarter worth approximately $33,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Teck Resources during the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Trading Up 15.2 %

Teck Resources stock opened at $33.47 on Thursday. Teck Resources Limited has a fifty-two week low of $28.32 and a fifty-two week high of $55.13. The firm’s fifty day moving average price is $39.69 and its 200-day moving average price is $43.67. 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 market cap of $16.56 billion, a P/E ratio of 60.86 and a beta of 0.81.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. The company 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%. 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 business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.0879 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, March 14th. Teck Resources’s dividend payout ratio is currently 61.82%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TECK. National Bankshares restated a “sector perform” rating on shares of Teck Resources in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. cut their price target on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Desjardins initiated coverage on shares of Teck Resources in a report on Friday, April 4th. They set a “buy” rating on the stock. Bank of America raised their target price on Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday, March 10th. Finally, Raymond James reduced their target price on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. Seven research analysts have rated the stock with a hold rating, eight 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 stock currently has an average rating of “Moderate Buy” and an average price target 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.