ExodusPoint Capital Management LP Has $17 Million Holdings in Teck Resources Ltd $TECK

ExodusPoint Capital Management LP boosted its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 216.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 354,929 shares of the basic materials company’s stock after acquiring an additional 242,637 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Teck Resources were worth $16,998,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of TECK. Norges Bank bought a new position in Teck Resources in the fourth quarter valued at about $404,880,000. Wellington Management Group LLP raised its position in Teck Resources by 264.5% in the third quarter. Wellington Management Group LLP now owns 5,781,060 shares of the basic materials company’s stock valued at $253,695,000 after purchasing an additional 4,194,868 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Teck Resources in the fourth quarter valued at about $169,999,000. Pentwater Capital Management LP raised its position in Teck Resources by 7,150.0% in the third quarter. Pentwater Capital Management LP now owns 2,900,000 shares of the basic materials company’s stock valued at $127,281,000 after purchasing an additional 2,860,000 shares during the last quarter. Finally, Carrhae Capital LLP bought a new position in Teck Resources in the fourth quarter valued at about $98,841,000. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Trading Up 1.3%

NYSE TECK opened at $66.99 on Wednesday. The company has a market cap of $32.30 billion, a price-to-earnings ratio of 24.54, a P/E/G ratio of 4.01 and a beta of 0.89. Teck Resources Ltd has a 52 week low of $30.98 and a 52 week high of $71.25. The business has a 50 day moving average price of $61.49 and a 200-day moving average price of $54.78. 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 announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.50 annualized dividend and a dividend yield of 0.7%. Teck Resources’s payout ratio is presently 13.19%.

Wall Street Analyst Weigh In

TECK has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on Teck Resources from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Benchmark increased their target price on Teck Resources from $48.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. TD Securities reiterated a “hold” rating on shares of Teck Resources in a research report on Friday, April 24th. Weiss Ratings upgraded Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, April 24th. Finally, Zacks Research downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Five research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $59.17.

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.