Squarepoint Ops LLC Buys New Holdings in Teck Resources Ltd $TECK

Squarepoint Ops LLC bought a new stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 133,740 shares of the basic materials company’s stock, valued at approximately $7,952,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TECK. AQR Capital Management LLC lifted its position in shares of Teck Resources by 11.1% in the first quarter. AQR Capital Management LLC now owns 34,705 shares of the basic materials company’s stock valued at $1,264,000 after buying an additional 3,458 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Teck Resources by 453.0% during the 1st quarter. Jones Financial Companies Lllp now owns 9,721 shares of the basic materials company’s stock worth $354,000 after acquiring an additional 7,963 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Teck Resources by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 465,861 shares of the basic materials company’s stock worth $16,971,000 after acquiring an additional 8,146 shares during the last quarter. Marshall Wace LLP raised its stake in Teck Resources by 189.3% in the 2nd quarter. Marshall Wace LLP now owns 218,242 shares of the basic materials company’s stock valued at $8,813,000 after acquiring an additional 142,816 shares during the period. Finally, NewEdge Advisors LLC raised its stake in Teck Resources by 4,602.9% in the 2nd quarter. NewEdge Advisors LLC now owns 8,183 shares of the basic materials company’s stock valued at $330,000 after acquiring an additional 8,009 shares during the period. Institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Down 6.3%

Shares of TECK opened at $65.90 on Friday. The company has a current ratio of 3.12, a quick ratio of 2.33 and a debt-to-equity ratio of 0.12. Teck Resources Ltd has a 12 month low of $38.00 and a 12 month high of $72.56. The firm’s 50 day moving average is $63.61 and its 200-day moving average is $60.28. The stock has a market capitalization of $31.83 billion, a PE ratio of 17.86, a P/E/G ratio of 2.53 and a beta of 0.94.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.40. The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Teck Resources had a return on equity of 10.42% and a net margin of 17.85%.The firm’s revenue for the quarter was up 78.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 earnings per share. Equities research analysts forecast that Teck Resources Ltd will post 3.48 EPS for the current year.

Teck Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 15th. Teck Resources’s dividend payout ratio is presently 9.76%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Teck Resources from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Scotiabank reissued a “sector perform” rating on shares of Teck Resources in a research report on Monday, June 15th. Raymond James Financial upgraded shares of Teck Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 23rd. Wall Street Zen downgraded shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 26th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Teck Resources from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $62.25.

About Teck Resources

Teck Resources Limited is a Canadian mining and metals company focused primarily on the exploration, development and production of base metals. Its principal products include copper, zinc and lead, along with associated by-products such as molybdenum, silver and germanium. Copper is an increasingly important part of Teck’s business as the metal is used in electrical infrastructure, renewable energy systems, transportation and industrial applications.

Teck operates and develops mining assets in Canada, Chile and Peru.