15,600 Shares in Teck Resources Limited (NYSE:TECK) Purchased by Polymer Capital Management US LLC

Polymer Capital Management US LLC bought a new position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,600 shares of the basic materials company’s stock, valued at approximately $632,000.

A number of other hedge funds also recently added to or reduced their stakes in TECK. Norges Bank acquired a new stake in shares of Teck Resources in the 4th quarter worth approximately $470,101,000. Swedbank AB purchased a new stake in Teck Resources during the fourth quarter worth $103,878,000. Arrowstreet Capital Limited Partnership acquired a new stake in Teck Resources in the fourth quarter valued at $65,197,000. AMF Tjanstepension AB increased its position in shares of Teck Resources by 32.2% in the fourth quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company’s stock valued at $244,252,000 after buying an additional 1,467,516 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Teck Resources by 21.7% in the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock valued at $388,507,000 after buying an additional 1,326,241 shares in the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Stock Down 12.1 %

Shares of NYSE:TECK opened at $29.97 on Monday. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The firm has a market cap of $14.83 billion, a price-to-earnings ratio of 54.48 and a beta of 0.81. The stock’s 50-day moving average price is $40.72 and its two-hundred day moving average price is $44.23. Teck Resources Limited has a 12-month low of $29.26 and a 12-month high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $2.58 billion. On average, research analysts forecast that Teck Resources Limited will post 1.53 EPS for the current 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 paid a dividend of $0.0879 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.35 annualized dividend and a dividend yield of 1.17%. Teck Resources’s dividend payout ratio is presently 61.82%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TECK. JPMorgan Chase & Co. lowered their price objective on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Bank of America upped 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. Desjardins started coverage on shares of Teck Resources in a research note on Friday. They set a “buy” rating for the company. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Finally, Raymond James lowered their target price on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.22.

Teck Resources Company 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.