Virtu Financial LLC Invests $413,000 in Teck Resources Limited (NYSE:TECK)

Virtu Financial LLC bought a new stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,201 shares of the basic materials company’s stock, valued at approximately $413,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Swedbank AB acquired a new position in shares of Teck Resources in the 4th quarter valued at about $103,878,000. FMR LLC lifted its position in Teck Resources by 72.8% during the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock valued at $189,848,000 after buying an additional 1,531,563 shares in the last quarter. AMF Tjanstepension AB grew its stake in Teck Resources by 32.2% during the fourth quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company’s stock worth $244,252,000 after buying an additional 1,467,516 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in shares of Teck Resources in the third quarter worth $70,549,000. Finally, Principal Financial Group Inc. raised its stake in shares of Teck Resources by 21.7% in the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock valued at $388,507,000 after acquiring an additional 1,326,241 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Performance

Shares of Teck Resources stock opened at $40.12 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. Teck Resources Limited has a 1 year low of $36.54 and a 1 year high of $55.13. The firm’s 50-day simple moving average is $41.73 and its 200-day simple moving average is $44.72. The firm has a market cap of $20.19 billion, a PE ratio of 72.94 and a beta of 0.93.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.07. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. Equities analysts forecast that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.0879 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources’s dividend payout ratio is presently 61.82%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Raymond James cut their price objective on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their target price on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Bank of America upped their price target on Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Finally, National Bank Financial lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Teck Resources currently has an average rating of “Moderate Buy” and an average target price of $65.22.

About Teck Resources

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.