WINTON GROUP Ltd Acquires 3,292 Shares of Teck Resources Limited (NYSE:TECK)

WINTON GROUP Ltd increased its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 10.6% during the 4th quarter, HoldingsChannel reports. The fund owned 34,467 shares of the basic materials company’s stock after buying an additional 3,292 shares during the period. WINTON GROUP Ltd’s holdings in Teck Resources were worth $1,397,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mufg Securities Canada LTD. boosted its position in shares of Teck Resources by 69.2% in the 4th quarter. Mufg Securities Canada LTD. now owns 691,422 shares of the basic materials company’s stock worth $28,014,000 after purchasing an additional 282,713 shares in the last quarter. TD Asset Management Inc. boosted its holdings in Teck Resources by 0.7% in the fourth quarter. TD Asset Management Inc. now owns 5,973,390 shares of the basic materials company’s stock worth $242,059,000 after acquiring an additional 41,081 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Teck Resources by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company’s stock worth $783,153,000 after acquiring an additional 58,985 shares during the last quarter. Community Bank N.A. bought a new position in shares of Teck Resources during the fourth quarter valued at $33,000. Finally, LPL Financial LLC raised its position in shares of Teck Resources by 5.1% in the 4th quarter. LPL Financial LLC now owns 152,327 shares of the basic materials company’s stock worth $6,174,000 after purchasing an additional 7,400 shares during the last quarter. 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 several recent analyst reports. Raymond James cut their price objective on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. Bank of America increased their price target on shares of Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday, March 10th. National Bank Financial lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. cut their target price on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Teck Resources currently has an average rating of “Moderate Buy” and a consensus target price of $65.22.

Teck Resources Stock Performance

TECK stock opened at $39.35 on Friday. 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 Limited has a 1 year low of $36.54 and a 1 year high of $55.13. The company has a market cap of $19.80 billion, a P/E ratio of 71.54 and a beta of 0.93. The stock’s fifty day moving average price is $41.67 and its 200-day moving average price is $44.69.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.58 billion. On average, equities analysts forecast that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.0879 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a yield of 0.89%. Teck Resources’s dividend payout ratio is currently 61.82%.

About Teck Resources

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.