BNP Paribas Financial Markets Buys 93,459 Shares of Teck Resources Limited (NYSE:TECK)

BNP Paribas Financial Markets raised its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 194.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 141,593 shares of the basic materials company’s stock after purchasing an additional 93,459 shares during the period. BNP Paribas Financial Markets’ holdings in Teck Resources were worth $7,397,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of TECK. Principal Financial Group Inc. grew its stake in shares of Teck Resources by 21.7% during the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock worth $388,507,000 after acquiring an additional 1,326,241 shares during the period. CIBC Asset Management Inc increased its stake in shares of Teck Resources by 2.6% in the third quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company’s stock worth $341,337,000 after purchasing an additional 165,759 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Teck Resources by 10.3% in the second quarter. Mackenzie Financial Corp now owns 5,855,836 shares of the basic materials company’s stock valued at $280,655,000 after purchasing an additional 546,801 shares during the period. TD Asset Management Inc lifted its stake in shares of Teck Resources by 49.0% during the 2nd quarter. TD Asset Management Inc now owns 4,950,816 shares of the basic materials company’s stock valued at $237,202,000 after buying an additional 1,629,149 shares in the last quarter. Finally, Cibc World Market Inc. boosted its holdings in Teck Resources by 26.1% in the 2nd quarter. Cibc World Market Inc. now owns 4,779,715 shares of the basic materials company’s stock worth $228,948,000 after buying an additional 989,612 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Price Performance

Shares of NYSE:TECK opened at $46.12 on Tuesday. Teck Resources Limited has a one year low of $36.50 and a one year high of $55.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The firm has a market capitalization of $23.63 billion, a price-to-earnings ratio of 69.88 and a beta of 1.04. The company’s fifty day moving average price is $48.71 and its 200-day moving average price is $48.34.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the prior year, the firm earned $0.57 earnings per share. The firm’s revenue was down 20.6% on a year-over-year basis. On average, equities research analysts anticipate that Teck Resources Limited will post 1.82 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.0895 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.78%. Teck Resources’s payout ratio is 56.06%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TECK. Citigroup upgraded Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. UBS Group cut Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. JPMorgan Chase & Co. reduced their target price on Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Scotiabank increased their price target on shares of Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a report on Tuesday, October 8th. Finally, StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $65.29.

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.