Teck Resources Limited (NYSE:TECK) Shares Bought by Davidson Kempner Capital Management LP

Davidson Kempner Capital Management LP increased its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 270.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 927,434 shares of the basic materials company’s stock after acquiring an additional 677,184 shares during the period. Davidson Kempner Capital Management LP’s holdings in Teck Resources were worth $44,424,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TECK. Hexagon Capital Partners LLC grew its stake in shares of Teck Resources by 143.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock valued at $30,000 after buying an additional 386 shares during the period. Creekmur Asset Management LLC acquired a new stake in Teck Resources during the fourth quarter worth about $35,000. Headlands Technologies LLC purchased a new position in shares of Teck Resources in the 2nd quarter worth about $38,000. Optiver Holding B.V. lifted its stake in shares of Teck Resources by 81.9% in the 4th quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 438 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Teck Resources by 583.1% during the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 898 shares during the period. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Stock Performance

Teck Resources stock opened at $48.91 on Monday. The stock has a market cap of $25.02 billion, a P/E ratio of 21.64 and a beta of 1.01. The stock has a 50 day moving average of $46.85 and a 200-day moving average of $47.75. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. Teck Resources Limited has a 52 week low of $34.38 and a 52 week high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.47 by $0.32. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 earnings per share. On average, analysts expect that Teck Resources Limited will post 2.02 EPS for the current fiscal year.

Teck Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.11%. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Friday, September 13th. Teck Resources’s payout ratio is 16.37%.

Analyst Ratings Changes

TECK has been the topic of several research reports. JPMorgan Chase & Co. cut their price target on shares of Teck Resources from $56.00 to $54.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Tuesday, September 17th. Morgan Stanley increased their price target on Teck Resources from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, June 21st. Eight Capital cut Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, Paradigm Capital upgraded Teck Resources to a “moderate buy” rating in a research note on Friday, July 26th. Three 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.00.

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.