Y Intercept Hong Kong Ltd Purchases 61,322 Shares of Teck Resources Ltd $TECK

Y Intercept Hong Kong Ltd raised its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 244.9% in the first quarter, HoldingsChannel.com reports. The fund owned 86,358 shares of the basic materials company’s stock after purchasing an additional 61,322 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Teck Resources were worth $4,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of TECK. Brown Brothers Harriman & Co. bought a new stake in shares of Teck Resources in the 4th quarter valued at about $25,000. Blue Trust Inc. grew its holdings in Teck Resources by 411.8% during the first quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 453 shares during the period. Flagship Harbor Advisors LLC bought a new position in Teck Resources during the fourth quarter worth about $103,000. Banque Cantonale Vaudoise increased its position in Teck Resources by 5,102.0% during the third quarter. Banque Cantonale Vaudoise now owns 2,549 shares of the basic materials company’s stock worth $112,000 after buying an additional 2,500 shares during the last quarter. Finally, Ameriflex Group Inc. increased its position in Teck Resources by 149.1% during the third quarter. Ameriflex Group Inc. now owns 3,044 shares of the basic materials company’s stock worth $134,000 after buying an additional 1,822 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on TECK shares. Deutsche Bank Aktiengesellschaft raised their price objective on Teck Resources from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday. Weiss Ratings raised Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a research note on Monday, June 15th. Zacks Research cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Finally, TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a research report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $60.17.

Teck Resources Trading Down 0.1%

Shares of TECK stock opened at $59.96 on Monday. The firm has a 50 day moving average price of $62.51 and a two-hundred day moving average price of $56.33. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $28.94 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 3.56 and a beta of 0.92. Teck Resources Ltd has a 12-month low of $30.98 and a 12-month high of $71.25.

Teck Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Monday, June 15th. Teck Resources’s dividend payout ratio is currently 13.19%.

About Teck Resources

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.