BNP Paribas Financial Markets Acquires 141,753 Shares of Teck Resources Limited (NYSE:TECK)

BNP Paribas Financial Markets grew its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 100.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 283,346 shares of the basic materials company’s stock after purchasing an additional 141,753 shares during the period. BNP Paribas Financial Markets’ holdings in Teck Resources were worth $11,484,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in Teck Resources by 2.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the basic materials company’s stock worth $471,000 after buying an additional 243 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Teck Resources by 2.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 9,809 shares of the basic materials company’s stock worth $398,000 after acquiring an additional 279 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in Teck Resources by 6.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,844 shares of the basic materials company’s stock worth $196,000 after acquiring an additional 297 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Teck Resources by 2.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company’s stock valued at $566,000 after acquiring an additional 302 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its position in Teck Resources by 7.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company’s stock valued at $198,000 after purchasing an additional 327 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Up 3.2 %

Shares of NYSE:TECK opened at $35.81 on Friday. The stock’s 50-day moving average is $36.36 and its 200 day moving average is $41.14. The company has a market cap of $17.64 billion, a PE ratio of 65.11 and a beta of 0.79. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. Teck Resources Limited has a 1 year low of $28.32 and a 1 year high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.18. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the firm earned $0.75 earnings per share. The business’s revenue was up 41.4% compared to the same quarter last year. Sell-side analysts anticipate that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $0.0901 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.01%. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, June 16th. Teck Resources’s dividend payout ratio (DPR) is currently 58.62%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TECK shares. National Bankshares upgraded Teck Resources from a “sector perform” rating to an “outperform” rating in a research report on Thursday, April 24th. Desjardins started coverage on shares of Teck Resources in a research note on Friday, April 4th. They set a “buy” rating on the stock. National Bank Financial raised shares of Teck Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 24th. Veritas raised shares of Teck Resources to a “hold” rating in a report on Friday, April 11th. Finally, Raymond James lowered their price target on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Teck Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.11.

Teck Resources Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.