ExodusPoint Capital Management LP Invests $36.69 Million in Teck Resources Limited (NYSE:TECK)

ExodusPoint Capital Management LP acquired a new stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 871,443 shares of the basic materials company’s stock, valued at approximately $36,688,000. ExodusPoint Capital Management LP owned approximately 0.17% of Teck Resources at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wetherby Asset Management Inc. raised its position in shares of Teck Resources by 0.7% in the first quarter. Wetherby Asset Management Inc. now owns 39,655 shares of the basic materials company’s stock worth $1,447,000 after buying an additional 270 shares in the last quarter. Private Trust Co. NA boosted its position in shares of Teck Resources by 29.9% during the 2nd quarter. Private Trust Co. NA now owns 1,215 shares of the basic materials company’s stock valued at $51,000 after acquiring an additional 280 shares during the last quarter. Optimum Investment Advisors grew its holdings in shares of Teck Resources by 60.0% during the second quarter. Optimum Investment Advisors now owns 800 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 300 shares in the last quarter. Synergy Asset Management LLC increased its position in shares of Teck Resources by 4.3% in the second quarter. Synergy Asset Management LLC now owns 7,562 shares of the basic materials company’s stock worth $318,000 after purchasing an additional 309 shares during the last quarter. Finally, Intercontinental Wealth Advisors LLC raised its stake in Teck Resources by 1.3% in the first quarter. Intercontinental Wealth Advisors LLC now owns 23,774 shares of the basic materials company’s stock valued at $868,000 after purchasing an additional 312 shares in the last quarter. Institutional investors own 59.23% of the company’s stock.

Teck Resources Trading Up 1.8 %

NYSE TECK traded up $0.63 on Monday, hitting $36.63. The company’s stock had a trading volume of 2,422,265 shares, compared to its average volume of 4,084,704. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 0.22. Teck Resources Limited has a 52-week low of $31.42 and a 52-week high of $49.34. The firm has a market cap of $18.76 billion, a P/E ratio of 11.46, a PEG ratio of 4.46 and a beta of 1.07. The company’s 50-day simple moving average is $39.06 and its 200 day simple moving average is $40.68.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Tuesday, October 24th. The basic materials company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.20). Teck Resources had a net margin of 15.78% and a return on equity of 9.11%. The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.77 billion. Research analysts predict that Teck Resources Limited will post 3.83 EPS for the current fiscal year.

Teck Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a $0.125 dividend. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. This represents a $0.50 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Thursday, December 14th. Teck Resources’s dividend payout ratio is presently 11.46%.

Analyst Ratings Changes

A number of brokerages have recently commented on TECK. Benchmark reissued a “buy” rating and issued a $50.00 price target on shares of Teck Resources in a report on Wednesday, October 25th. Wolfe Research raised Teck Resources from a “peer perform” rating to an “outperform” rating in a report on Friday, November 10th. National Bank Financial upgraded Teck Resources from a “sector perform” rating to an “outperform” rating in a research report on Thursday, July 27th. Scotiabank cut shares of Teck Resources from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, October 17th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Teck Resources in a research note on Tuesday, October 17th. They issued an “overweight” rating and a $52.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.91.

About Teck Resources

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.