ExodusPoint Capital Management LP Has $17 Million Stake in Teck Resources Ltd $TECK

ExodusPoint Capital Management LP increased its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 216.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 354,929 shares of the basic materials company’s stock after acquiring an additional 242,637 shares during the quarter. ExodusPoint Capital Management LP owned about 0.07% of Teck Resources worth $16,998,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Welch Group LLC raised its stake in Teck Resources by 3.5% in the 4th quarter. Welch Group LLC now owns 5,899 shares of the basic materials company’s stock valued at $283,000 after acquiring an additional 199 shares during the period. Smartleaf Asset Management LLC raised its stake in Teck Resources by 72.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 351 shares during the period. GSA Capital Partners LLP raised its stake in Teck Resources by 1.0% in the 3rd quarter. GSA Capital Partners LLP now owns 40,941 shares of the basic materials company’s stock valued at $1,797,000 after acquiring an additional 409 shares during the period. 44 Wealth Management LLC raised its stake in Teck Resources by 1.3% in the 4th 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 during the period. Finally, NewEdge Advisors LLC raised its stake in Teck Resources by 5.5% in the 3rd 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 during the period. Institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on TECK. Wall Street Zen upgraded Teck Resources to a “buy” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. increased their price target on Teck Resources from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Teck Resources in a report on Friday, May 15th. Veritas lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. Finally, Benchmark upped their price objective on Teck Resources from $48.00 to $67.00 and gave the company a “buy” rating in a report on Monday, February 23rd. Five research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $59.17.

Teck Resources Stock Performance

Shares of NYSE TECK opened at $66.99 on Wednesday. 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 fifty day moving average price is $61.49 and its two-hundred day moving average price is $54.78. Teck Resources Ltd has a one year low of $30.98 and a one year high of $71.25. The firm has a market cap of $32.30 billion, a price-to-earnings ratio of 24.54, a P/E/G ratio of 4.01 and a beta of 0.89.

Teck Resources Announces Dividend

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

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.