Acasta Partners UK LLP Purchases New Holdings in Teck Resources Ltd $TECK

Acasta Partners UK LLP purchased a new stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in the 4th quarter, Holdings Channel reports. The fund purchased 18,068 shares of the basic materials company’s stock, valued at approximately $865,000. Teck Resources accounts for about 0.3% of Acasta Partners UK LLP’s holdings, making the stock its 13th biggest position.

Several other large investors have also recently bought and sold shares of the stock. Welch Group LLC boosted its position in Teck Resources by 3.5% during the fourth quarter. Welch Group LLC now owns 5,899 shares of the basic materials company’s stock valued at $283,000 after purchasing an additional 199 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Teck Resources by 72.4% during the third quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 351 shares during the last quarter. GSA Capital Partners LLP boosted its position in Teck Resources by 1.0% during the third quarter. GSA Capital Partners LLP now owns 40,941 shares of the basic materials company’s stock valued at $1,797,000 after purchasing an additional 409 shares during the last quarter. 44 Wealth Management LLC raised its stake in Teck Resources by 1.3% in the fourth quarter. 44 Wealth Management LLC now owns 31,488 shares of the basic materials company’s stock valued at $1,508,000 after buying an additional 411 shares during the period. Finally, NewEdge Advisors LLC raised its stake in Teck Resources by 5.5% in the third quarter. NewEdge Advisors LLC now owns 8,635 shares of the basic materials company’s stock valued at $379,000 after buying an additional 452 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TECK has been the topic of several research analyst reports. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a research note on Tuesday, April 14th. JPMorgan Chase & Co. upped their price objective on Teck Resources from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Benchmark upped their price objective on Teck Resources from $48.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. TD Securities restated a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. Finally, Zacks Research lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Five analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $59.17.

Teck Resources Price Performance

NYSE:TECK opened at $64.80 on Friday. The firm has a market capitalization of $31.24 billion, a price-to-earnings ratio of 23.74, a P/E/G ratio of 3.93 and a beta of 0.89. 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 Ltd has a 12-month low of $30.98 and a 12-month high of $71.25. The stock’s 50 day moving average price is $60.94 and its two-hundred day moving average price is $54.35.

Teck Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.125 per share. The ex-dividend date is Monday, June 15th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.8%. Teck Resources’s dividend payout ratio (DPR) is 13.55%.

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.