Teck Resources Limited (NYSE:TECK) is Kailix Advisors LLC’s 2nd Largest Position

Kailix Advisors LLC raised its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 13.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 990,481 shares of the basic materials company’s stock after purchasing an additional 117,989 shares during the period. Teck Resources accounts for about 23.5% of Kailix Advisors LLC’s investment portfolio, making the stock its 2nd largest position. Kailix Advisors LLC’s holdings in Teck Resources were worth $41,868,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Baystate Wealth Management LLC bought a new position in shares of Teck Resources in the 3rd quarter valued at approximately $31,000. JFS Wealth Advisors LLC grew its holdings in Teck Resources by 249.0% in the 3rd quarter. JFS Wealth Advisors LLC now owns 841 shares of the basic materials company’s stock valued at $36,000 after buying an additional 600 shares during the last quarter. Blue Trust Inc. grew its holdings in Teck Resources by 187.3% in the 4th quarter. Blue Trust Inc. now owns 1,494 shares of the basic materials company’s stock valued at $64,000 after buying an additional 974 shares during the last quarter. Allworth Financial LP grew its holdings in Teck Resources by 17.9% in the 3rd quarter. Allworth Financial LP now owns 2,558 shares of the basic materials company’s stock valued at $110,000 after buying an additional 388 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in Teck Resources in the 4th quarter valued at approximately $182,000. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Stock Up 1.7 %

Shares of TECK stock traded up $0.84 on Friday, hitting $50.38. 4,965,983 shares of the stock were exchanged, compared to its average volume of 4,763,129. The company has a current ratio of 1.10, a quick ratio of 0.60 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $25.72 billion, a P/E ratio of 22.29, a price-to-earnings-growth ratio of 8.48 and a beta of 1.15. The business has a 50-day moving average of $43.94 and a 200 day moving average of $40.40. Teck Resources Limited has a fifty-two week low of $34.38 and a fifty-two week high of $50.93.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.01. Teck Resources had a return on equity of 7.70% and a net margin of 10.59%. The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.11 billion. Equities analysts anticipate that Teck Resources Limited will post 2.87 EPS for the current year.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $0.0925 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.37 annualized dividend and a yield of 0.73%. Teck Resources’s dividend payout ratio is 16.37%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Benchmark raised their target price on Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a report on Monday, April 8th. UBS Group assumed coverage on Teck Resources in a research report on Tuesday, January 16th. They set a “buy” rating for the company. JPMorgan Chase & Co. raised their target price on Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Finally, Morgan Stanley restated an “overweight” rating and set a $55.00 target price on shares of Teck Resources in a research report on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.86.

About Teck Resources

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.