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

BNP Paribas Financial Markets increased its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 100.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 283,346 shares of the basic materials company’s stock after buying an additional 141,753 shares during the quarter. BNP Paribas Financial Markets owned about 0.06% of Teck Resources worth $11,484,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Teck Resources during the third quarter valued at about $40,000. Franklin Resources Inc. lifted its position in Teck Resources by 11.4% in the 3rd quarter. Franklin Resources Inc. now owns 324,870 shares of the basic materials company’s stock valued at $16,724,000 after acquiring an additional 33,235 shares in the last quarter. Fulton Bank N.A. boosted its stake in Teck Resources by 6.5% during the 4th quarter. Fulton Bank N.A. now owns 8,218 shares of the basic materials company’s stock valued at $333,000 after purchasing an additional 499 shares during the last quarter. First Hawaiian Bank increased its holdings in Teck Resources by 57.1% during the 4th quarter. First Hawaiian Bank now owns 21,918 shares of the basic materials company’s stock worth $888,000 after purchasing an additional 7,969 shares in the last quarter. Finally, FNY Investment Advisers LLC raised its stake in shares of Teck Resources by 709.5% in the fourth quarter. FNY Investment Advisers LLC now owns 17,000 shares of the basic materials company’s stock worth $689,000 after purchasing an additional 14,900 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Up 3.2 %

TECK opened at $35.81 on Friday. Teck Resources Limited has a 12 month low of $28.32 and a 12 month high of $55.13. 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 current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average of $36.36 and a 200 day moving average of $41.14.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.19 billion. During the same period last year, the company earned $0.75 earnings per share. The business’s revenue for the quarter was up 41.4% on a year-over-year basis. On average, sell-side analysts expect that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. National Bank Financial upgraded Teck Resources from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 24th. Desjardins initiated coverage on shares of Teck Resources in a research note on Friday, April 4th. They issued a “buy” rating for the company. Raymond James lowered their target price on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. National Bankshares upgraded shares of Teck Resources from a “sector perform” rating to an “outperform” rating in a report on Thursday, April 24th. Finally, UBS Group reiterated a “neutral” rating on shares of Teck Resources in a research note on Tuesday, April 15th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average 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.