O Brien Greene & Co. Inc purchased a new position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the first quarter, Holdings Channel reports. The institutional investor purchased 17,550 shares of the basic materials company’s stock, valued at approximately $337,000.
Several other institutional investors also recently bought and sold shares of the company. Iridian Asset Management LLC CT bought a new position in shares of Teck Resources in the first quarter worth approximately $146,029,000. Norges Bank bought a new position in shares of Teck Resources in the fourth quarter worth approximately $105,443,000. Duquesne Family Office LLC increased its position in shares of Teck Resources by 395.4% in the fourth quarter. Duquesne Family Office LLC now owns 3,275,350 shares of the basic materials company’s stock worth $59,448,000 after purchasing an additional 2,614,150 shares during the last quarter. Peconic Partners LLC bought a new position in shares of Teck Resources in the fourth quarter worth approximately $29,040,000. Finally, New York State Common Retirement Fund purchased a new stake in Teck Resources in the first quarter worth approximately $16,910,000. 45.48% of the stock is owned by hedge funds and other institutional investors.
TECK traded up $0.24 during trading on Friday, reaching $23.69. The stock had a trading volume of 157,389 shares, compared to its average volume of 5,303,417. Teck Resources Limited has a one year low of $9.56 and a one year high of $26.72. The company has a quick ratio of 0.59, a current ratio of 1.16 and a debt-to-equity ratio of 0.30. The firm’s 50 day simple moving average is $22.92. The company has a market capitalization of $12.41 billion, a P/E ratio of -68.97, a price-to-earnings-growth ratio of 0.55 and a beta of 1.28.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Tuesday, June 15th will be issued a dividend of $0.0404 per share. The ex-dividend date is Monday, June 14th. This is an increase from Teck Resources’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a dividend yield of 0.68%. Teck Resources’s dividend payout ratio (DPR) is presently 14.10%.
Several analysts have issued reports on TECK shares. Royal Bank of Canada cut their target price on Teck Resources from $33.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, February 19th. TD Securities upped their target price on Teck Resources from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, February 19th. Scotiabank upped their target price on Teck Resources from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, April 19th. BMO Capital Markets increased their price objective on Teck Resources from $27.00 to $31.00 and gave the company a “market perform” rating in a research note on Tuesday, March 30th. Finally, Morgan Stanley increased their price objective on Teck Resources from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, May 4th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Teck Resources has a consensus rating of “Buy” and an average target price of $27.00.
Teck Resources Company Profile
Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, and Energy segments. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead and molybdenum concentrates.
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