Aigen Investment Management LP Makes New $1.20 Million Investment in Teck Resources Limited (NYSE:TECK)

Aigen Investment Management LP purchased a new position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 29,566 shares of the basic materials company’s stock, valued at approximately $1,199,000.

A number of other large investors have also recently bought and sold shares of TECK. Stonebridge Financial Group LLC acquired a new stake in Teck Resources during the 4th quarter worth about $25,000. Global Trust Asset Management LLC bought a new position in shares of Teck Resources during the 4th quarter worth about $27,000. FPC Investment Advisory Inc. bought a new position in shares of Teck Resources during the 4th quarter worth about $27,000. Wilmington Savings Fund Society FSB bought a new position in shares of Teck Resources during the 3rd quarter worth about $40,000. Finally, Jones Financial Companies Lllp boosted its position in shares of Teck Resources by 342.8% during the 4th quarter. Jones Financial Companies Lllp now owns 1,758 shares of the basic materials company’s stock worth $71,000 after purchasing an additional 1,361 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Trading Up 7.6 %

NYSE:TECK opened at $41.58 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. The firm has a market cap of $20.65 billion, a price-to-earnings ratio of 75.59 and a beta of 0.93. Teck Resources Limited has a 52 week low of $37.75 and a 52 week high of $55.13. The firm has a 50-day moving average price of $41.82 and a two-hundred day moving average price of $45.41.

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

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.0879 per share. The ex-dividend date is Friday, March 14th. This represents a $0.35 annualized dividend and a dividend yield of 0.85%. Teck Resources’s payout ratio is currently 61.82%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TECK. National Bank Financial cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Raymond James cut their price objective on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $65.38.

Teck Resources Company 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.