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

Aigen Investment Management LP acquired a new position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 29,566 shares of the basic materials company’s stock, valued at approximately $1,199,000.

Other institutional investors also recently made changes to their positions in the company. Stonebridge Financial Group LLC bought a new stake in shares of Teck Resources during the fourth quarter worth approximately $25,000. Global Trust Asset Management LLC bought a new stake in shares of Teck Resources in the fourth quarter valued at approximately $27,000. FPC Investment Advisory Inc. bought a new stake in shares of Teck Resources in the fourth quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Teck Resources in the third quarter valued at approximately $40,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of Teck Resources by 342.8% in the fourth quarter. Jones Financial Companies Lllp now owns 1,758 shares of the basic materials company’s stock valued at $71,000 after buying an additional 1,361 shares during the period. Institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

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

Teck Resources Stock Up 7.6 %

Shares of NYSE:TECK opened at $41.58 on Thursday. The company has a fifty day moving average of $41.82 and a 200-day moving average of $45.41. The company has a market capitalization of $20.65 billion, a PE ratio of 75.59 and a beta of 0.93. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. Teck Resources Limited has a 52-week low of $37.75 and a 52-week high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate 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 predict that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Cuts Dividend

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

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.