Columbus Hill Capital Management L.P. Acquires Shares of 233,357 Teck Resources Limited (NYSE:TECK)

Columbus Hill Capital Management L.P. bought a new position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 233,357 shares of the basic materials company’s stock, valued at approximately $11,178,000. Teck Resources makes up about 2.3% of Columbus Hill Capital Management L.P.’s holdings, making the stock its 22nd largest holding.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Hexagon Capital Partners LLC boosted its position in Teck Resources by 143.0% in the first quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock valued at $30,000 after buying an additional 386 shares in the last quarter. Creekmur Asset Management LLC acquired a new position in shares of Teck Resources in the 4th quarter worth approximately $35,000. Headlands Technologies LLC bought a new stake in Teck Resources during the 2nd quarter worth approximately $38,000. Optiver Holding B.V. increased its holdings in Teck Resources by 81.9% during the 4th quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 438 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Teck Resources by 583.1% during the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 898 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Paradigm Capital upgraded Teck Resources to a “moderate buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. lowered their price objective on shares of Teck Resources from $56.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. CIBC upped their target price on shares of Teck Resources from $70.00 to $80.00 and gave the stock an “outperformer” rating in a research report on Friday, July 12th. StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, BMO Capital Markets started coverage on Teck Resources in a report on Monday, July 15th. They set an “outperform” rating on the stock. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Teck Resources Trading Down 0.1 %

NYSE TECK opened at $48.91 on Friday. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. Teck Resources Limited has a 12 month low of $34.38 and a 12 month high of $55.13. The company has a market capitalization of $25.02 billion, a PE ratio of 21.64 and a beta of 1.01. The stock has a 50-day simple moving average of $46.85 and a 200 day simple moving average of $47.63.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.32. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter last year, the firm earned $0.91 EPS. Teck Resources’s quarterly revenue was up 10.1% compared to the same quarter last year. Research analysts forecast that Teck Resources Limited will post 2.02 EPS for the current year.

Teck Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.625 dividend. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Friday, September 13th. This represents a $2.50 annualized dividend and a dividend yield of 5.11%. Teck Resources’s payout ratio is 16.37%.

Teck Resources Company Profile

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.