DJE Kapital AG Takes $3.87 Million Position in Teck Resources Ltd $TECK

DJE Kapital AG bought a new stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 80,021 shares of the basic materials company’s stock, valued at approximately $3,870,000.

A number of other hedge funds have also made changes to their positions in TECK. Norges Bank purchased a new position in shares of Teck Resources in the 4th quarter valued at $404,880,000. Wellington Management Group LLP raised its stake in shares of Teck Resources by 264.5% in the 3rd quarter. Wellington Management Group LLP now owns 5,781,060 shares of the basic materials company’s stock valued at $253,695,000 after acquiring an additional 4,194,868 shares during the period. Pentwater Capital Management LP raised its stake in shares of Teck Resources by 7,150.0% in the 3rd quarter. Pentwater Capital Management LP now owns 2,900,000 shares of the basic materials company’s stock valued at $127,281,000 after acquiring an additional 2,860,000 shares during the period. Carrhae Capital LLP purchased a new position in shares of Teck Resources in the 4th quarter valued at $98,841,000. Finally, Maple Rock Capital Partners Inc. purchased a new position in shares of Teck Resources in the 3rd quarter valued at $88,601,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on TECK shares. Wall Street Zen raised shares of Teck Resources to a “buy” rating in a research note on Saturday, May 16th. TD Securities reissued a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Teck Resources in a research note on Friday, May 15th. Weiss Ratings raised shares of Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Finally, Benchmark lifted their price target on shares of Teck Resources from $48.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. Five analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $59.17.

Teck Resources Price Performance

TECK opened at $63.68 on Friday. The company has a 50-day moving average of $60.71 and a 200-day moving average of $54.27. The company has a market capitalization of $30.70 billion, a P/E ratio of 23.32, a PEG ratio of 4.30 and a beta of 0.89. 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 quick ratio of 2.16 and a current ratio of 2.83.

Teck Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $0.125 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.50 annualized dividend and a dividend yield of 0.8%. Teck Resources’s payout ratio is presently 13.55%.

Teck Resources Company 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.