Moore Capital Management LP Purchases New Shares in Teck Resources Ltd $TECK

Moore Capital Management LP purchased a new stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 517,729 shares of the basic materials company’s stock, valued at approximately $24,794,000.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Teck Resources by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 20,185,694 shares of the basic materials company’s stock valued at $966,370,000 after purchasing an additional 278,481 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Teck Resources by 11.6% during the fourth quarter. Principal Financial Group Inc. now owns 18,832,299 shares of the basic materials company’s stock valued at $902,769,000 after purchasing an additional 1,953,070 shares in the last quarter. Davis Selected Advisers boosted its position in shares of Teck Resources by 9.0% during the fourth quarter. Davis Selected Advisers now owns 12,019,609 shares of the basic materials company’s stock valued at $575,620,000 after purchasing an additional 995,947 shares in the last quarter. Hancock Prospecting Pty Ltd boosted its position in shares of Teck Resources by 31.7% during the fourth quarter. Hancock Prospecting Pty Ltd now owns 10,298,293 shares of the basic materials company’s stock valued at $493,185,000 after purchasing an additional 2,477,344 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Teck Resources during the fourth quarter valued at approximately $404,880,000. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Price Performance

Shares of NYSE:TECK opened at $65.72 on Thursday. Teck Resources Ltd has a 1-year low of $30.98 and a 1-year high of $71.25. 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 business has a fifty day moving average price of $61.75 and a 200-day moving average price of $54.94. The company has a market capitalization of $31.69 billion, a PE ratio of 24.07, a PEG ratio of 4.06 and a beta of 0.89.

Teck Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.125 per share. The ex-dividend date is Monday, June 15th. This represents a $0.50 annualized dividend and a dividend yield of 0.8%. Teck Resources’s dividend payout ratio (DPR) is presently 13.19%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wall Street Zen upgraded Teck Resources to a “buy” rating in a research report on Saturday, May 16th. Zacks Research lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. TD Securities restated a “hold” rating on shares of Teck Resources in a research report on Friday, April 24th. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a research report on Monday. Finally, Benchmark boosted their target price on Teck Resources from $48.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Five analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Teck Resources currently has an average rating of “Hold” and an average target price 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.