FNY Investment Advisers LLC Makes New $105,000 Investment in Teck Resources Limited (NYSE:TECK)

FNY Investment Advisers LLC acquired a new position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,500 shares of the basic materials company’s stock, valued at approximately $105,000.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Teck Resources in the 4th quarter worth about $291,283,000. Anomaly Capital Management LP bought a new position in shares of Teck Resources in the 4th quarter worth about $108,290,000. Cowa LLC increased its stake in shares of Teck Resources by 9,975.4% in the 1st quarter. Cowa LLC now owns 2,008,935 shares of the basic materials company’s stock worth $811,000 after acquiring an additional 1,988,996 shares in the last quarter. Southpoint Capital Advisors LP increased its stake in shares of Teck Resources by 112.5% in the 1st quarter. Southpoint Capital Advisors LP now owns 3,400,000 shares of the basic materials company’s stock worth $124,100,000 after acquiring an additional 1,800,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Teck Resources by 209.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,391,712 shares of the basic materials company’s stock worth $96,601,000 after acquiring an additional 1,618,412 shares in the last quarter. 59.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TECK has been the topic of several recent analyst reports. B. Riley cut their price objective on shares of Teck Resources from C$68.00 to C$67.00 in a research report on Monday, June 26th. National Bank Financial upgraded shares of Teck Resources from a “sector perform” rating to an “outperform” rating in a research note on Thursday, July 27th. Wolfe Research cut shares of Teck Resources from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, July 11th. Stifel Nicolaus decreased their target price on shares of Teck Resources from C$72.00 to C$68.00 in a research note on Monday, July 10th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $53.00 price objective on shares of Teck Resources in a research report on Monday, July 31st. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.21.

Teck Resources Trading Up 0.5 %

NYSE TECK traded up $0.20 on Friday, hitting $43.99. 3,441,202 shares of the stock were exchanged, compared to its average volume of 2,643,964. The firm has a market capitalization of $22.52 billion, a P/E ratio of 17.81 and a beta of 1.10. Teck Resources Limited has a 52-week low of $28.41 and a 52-week high of $49.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.72 and a current ratio of 1.29. The stock has a fifty day moving average price of $41.48 and a two-hundred day moving average price of $41.38.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, July 27th. The basic materials company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.06). The company had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.77 billion. Teck Resources had a net margin of 11.39% and a return on equity of 11.24%. Research analysts forecast that Teck Resources Limited will post 3.94 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.094 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.38 annualized dividend and a dividend yield of 0.85%. Teck Resources’s payout ratio is currently 14.98%.

Teck Resources Company Profile

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