Teck Resources Limited (NYSE:TECK) Shares Acquired by High Ground Investment Management LLP

High Ground Investment Management LLP raised its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 87.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 256,119 shares of the basic materials company’s stock after buying an additional 119,706 shares during the period. Teck Resources makes up 5.3% of High Ground Investment Management LLP’s investment portfolio, making the stock its 7th biggest position. High Ground Investment Management LLP’s holdings in Teck Resources were worth $10,826,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Baystate Wealth Management LLC bought a new stake in shares of Teck Resources in the third quarter worth $31,000. JFS Wealth Advisors LLC increased its stake in shares of Teck Resources by 249.0% in the third quarter. JFS Wealth Advisors LLC now owns 841 shares of the basic materials company’s stock valued at $36,000 after buying an additional 600 shares during the period. First Horizon Advisors Inc. boosted its holdings in Teck Resources by 69.4% in the fourth quarter. First Horizon Advisors Inc. now owns 1,162 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 476 shares during the last quarter. Blue Trust Inc. increased its position in Teck Resources by 187.3% during the 4th quarter. Blue Trust Inc. now owns 1,494 shares of the basic materials company’s stock valued at $64,000 after purchasing an additional 974 shares during the period. Finally, Allworth Financial LP raised its holdings in Teck Resources by 17.9% during the 3rd quarter. Allworth Financial LP now owns 2,558 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 388 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on TECK. JPMorgan Chase & Co. upped their price objective on shares of Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. UBS Group began coverage on shares of Teck Resources in a research report on Tuesday, January 16th. They set a “buy” rating on the stock. Benchmark raised their target price on Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $55.00 price objective on shares of Teck Resources in a research note on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $57.86.

Teck Resources Stock Up 0.1 %

Shares of NYSE TECK traded up $0.05 during mid-day trading on Thursday, reaching $48.46. 3,325,177 shares of the company’s stock traded hands, compared to its average volume of 4,067,468. The stock has a market cap of $24.80 billion, a P/E ratio of 21.41, a PEG ratio of 8.82 and a beta of 1.12. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.49 and a quick ratio of 0.86. Teck Resources Limited has a 1-year low of $34.38 and a 1-year high of $51.65. The business has a 50-day simple moving average of $44.62 and a 200 day simple moving average of $40.60.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.01. Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.11 billion. On average, analysts expect that Teck Resources Limited will post 2.7 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be paid a $0.0911 dividend. The ex-dividend date is Monday, June 17th. This represents a $0.36 annualized dividend and a yield of 0.75%. Teck Resources’s dividend payout ratio (DPR) is 16.37%.

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.