Trexquant Investment LP Invests $978,000 in Teck Resources Ltd (TECK)

Trexquant Investment LP acquired a new position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 40,561 shares of the basic materials company’s stock, valued at approximately $978,000.

Several other hedge funds have also bought and sold shares of the company. Nomura Holdings Inc. increased its position in Teck Resources by 28.1% in the 2nd quarter. Nomura Holdings Inc. now owns 14,092 shares of the basic materials company’s stock valued at $359,000 after buying an additional 3,091 shares in the last quarter. Advisors Asset Management Inc. increased its position in Teck Resources by 2,675.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,191 shares of the basic materials company’s stock valued at $107,000 after buying an additional 4,040 shares in the last quarter. SG Americas Securities LLC increased its position in Teck Resources by 2.4% in the 2nd quarter. SG Americas Securities LLC now owns 183,597 shares of the basic materials company’s stock valued at $4,673,000 after buying an additional 4,306 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Teck Resources by 46.2% in the 2nd quarter. Janney Montgomery Scott LLC now owns 14,236 shares of the basic materials company’s stock valued at $362,000 after buying an additional 4,499 shares in the last quarter. Finally, NumerixS Investment Technologies Inc bought a new stake in Teck Resources in the 2nd quarter valued at about $111,000. 54.66% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently commented on TECK. ValuEngine raised Teck Resources from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 1st. CIBC reissued a “buy” rating on shares of Teck Resources in a report on Tuesday, October 30th. Canaccord Genuity reissued a “buy” rating on shares of Teck Resources in a report on Tuesday, October 30th. Scotiabank reissued a “buy” rating on shares of Teck Resources in a report on Tuesday, October 30th. Finally, TD Securities reissued a “buy” rating on shares of Teck Resources in a report on Sunday, October 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $31.43.

Shares of TECK opened at $20.30 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.30 and a quick ratio of 1.39. The company has a market cap of $11.39 billion, a price-to-earnings ratio of 5.92, a P/E/G ratio of 0.57 and a beta of 1.55. Teck Resources Ltd has a 52 week low of $18.17 and a 52 week high of $30.80.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.11). The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.40 billion. Teck Resources had a return on equity of 12.31% and a net margin of 27.35%. Analysts expect that Teck Resources Ltd will post 3.4 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be issued a dividend of $0.038 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Thursday, December 13th. Teck Resources’s dividend payout ratio is currently 4.37%.

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Teck Resources Company Profile

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Americas, the Asia Pacific, and Europe. It operates through five segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate. The company's principal products comprise steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.

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Institutional Ownership by Quarter for Teck Resources (NYSE:TECK)

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