Moore Capital Management LP Takes Position in Teck Resources Ltd $TECK

Moore Capital Management LP acquired a new stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 517,729 shares of the basic materials company’s stock, valued at approximately $24,794,000. Moore Capital Management LP owned about 0.11% of Teck Resources at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brown Brothers Harriman & Co. bought a new position in Teck Resources during the 4th quarter worth approximately $25,000. Smartleaf Asset Management LLC grew its position in Teck Resources by 72.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 351 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Teck Resources by 82.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,217 shares of the basic materials company’s stock worth $97,000 after acquiring an additional 1,004 shares during the last quarter. Flagship Harbor Advisors LLC bought a new position in Teck Resources during the 4th quarter worth approximately $103,000. Finally, Banque Cantonale Vaudoise grew its position in Teck Resources by 5,102.0% during the 3rd quarter. Banque Cantonale Vaudoise now owns 2,549 shares of the basic materials company’s stock worth $112,000 after acquiring an additional 2,500 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TECK shares. Veritas lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Teck Resources in a research note on Friday, May 15th. JPMorgan Chase & Co. upped their price objective on shares of Teck Resources from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Truist Financial set a $67.00 price objective on shares of Teck Resources in a research note on Monday, February 23rd. Finally, Wall Street Zen raised shares of Teck Resources to a “buy” rating in a research note on Saturday, May 16th. Five equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat.com, Teck Resources currently has a consensus rating of “Hold” and an average price target of $59.17.

Teck Resources Stock Performance

NYSE:TECK opened at $65.72 on Thursday. The stock has a market cap of $31.69 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 4.06 and a beta of 0.89. The firm’s fifty day simple moving average is $61.75 and its 200 day simple moving average is $54.94. Teck Resources Ltd has a twelve month low of $30.98 and a twelve month high of $71.25. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13.

Teck Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.125 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.50 annualized dividend and a yield of 0.8%. Teck Resources’s payout ratio is 13.19%.

Teck Resources Company Profile

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.