Teck Resources Ltd $TECK is Magnetar Financial LLC’s 10th Largest Position

Magnetar Financial LLC increased its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 126.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,881,954 shares of the basic materials company’s stock after purchasing an additional 1,050,640 shares during the quarter. Teck Resources makes up about 0.9% of Magnetar Financial LLC’s portfolio, making the stock its 10th biggest position. Magnetar Financial LLC owned approximately 0.39% of Teck Resources worth $90,127,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Welch Group LLC lifted its holdings in shares of Teck Resources by 3.5% in the 4th quarter. Welch Group LLC now owns 5,899 shares of the basic materials company’s stock worth $283,000 after buying an additional 199 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Teck Resources by 72.4% during the third quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock valued at $37,000 after buying an additional 351 shares during the period. GSA Capital Partners LLP increased its stake in shares of Teck Resources by 1.0% during the third quarter. GSA Capital Partners LLP now owns 40,941 shares of the basic materials company’s stock valued at $1,797,000 after buying an additional 409 shares during the period. 44 Wealth Management LLC raised its holdings in shares of Teck Resources by 1.3% in the fourth quarter. 44 Wealth Management LLC now owns 31,488 shares of the basic materials company’s stock valued at $1,508,000 after acquiring an additional 411 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Teck Resources by 5.5% in the third quarter. NewEdge Advisors LLC now owns 8,635 shares of the basic materials company’s stock valued at $379,000 after acquiring an additional 452 shares in the last quarter. 78.06% of the stock is owned by institutional investors.

Teck Resources Price Performance

Shares of TECK stock opened at $66.99 on Wednesday. The company has a market cap of $32.30 billion, a P/E ratio of 24.54, a PEG ratio of 4.01 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16. The stock’s 50-day moving average is $61.49 and its 200 day moving average is $54.78. Teck Resources Ltd has a 1-year low of $30.98 and a 1-year high of $71.25.

Teck Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, June 15th. Teck Resources’s payout ratio is 13.19%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TECK. Zacks Research cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. TD Securities restated a “hold” rating on shares of Teck Resources in a report on Friday, April 24th. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a research report on Monday. JPMorgan Chase & Co. increased their price objective on shares of Teck Resources from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Finally, Benchmark lifted their price objective on shares of Teck Resources from $48.00 to $67.00 and gave the company a “buy” rating in a report on Monday, February 23rd. Five equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $59.17.

Teck Resources Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.