Beaconlight Capital LLC Sells 42,444 Shares of Teck Resources Ltd $TECK

Beaconlight Capital LLC trimmed its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 18.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 191,235 shares of the basic materials company’s stock after selling 42,444 shares during the period. Teck Resources accounts for approximately 5.3% of Beaconlight Capital LLC’s investment portfolio, making the stock its 5th biggest position. Beaconlight Capital LLC’s holdings in Teck Resources were worth $9,158,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TECK. AQR Capital Management LLC increased its holdings in Teck Resources by 11.1% during the first quarter. AQR Capital Management LLC now owns 34,705 shares of the basic materials company’s stock worth $1,264,000 after buying an additional 3,458 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Teck Resources by 453.0% during the 1st quarter. Jones Financial Companies Lllp now owns 9,721 shares of the basic materials company’s stock worth $354,000 after acquiring an additional 7,963 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Teck Resources by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 465,861 shares of the basic materials company’s stock worth $16,971,000 after acquiring an additional 8,146 shares during the period. Marshall Wace LLP boosted its stake in shares of Teck Resources by 189.3% during the 2nd quarter. Marshall Wace LLP now owns 218,242 shares of the basic materials company’s stock worth $8,813,000 after acquiring an additional 142,816 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in shares of Teck Resources by 4,602.9% during the 2nd quarter. NewEdge Advisors LLC now owns 8,183 shares of the basic materials company’s stock worth $330,000 after acquiring an additional 8,009 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Trading Down 1.9%

TECK stock opened at $65.72 on Thursday. Teck Resources Ltd has a 52 week low of $30.98 and a 52 week high of $71.25. The company has a market capitalization of $31.69 billion, a PE ratio of 24.07, a price-to-earnings-growth ratio of 4.06 and a beta of 0.89. The company’s 50-day simple moving average is $61.75 and its 200 day simple moving average is $54.94. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.16 and a current ratio of 2.83.

Teck Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.125 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.50 annualized dividend and a yield of 0.8%. Teck Resources’s payout ratio is 13.19%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Zacks Research downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Wall Street Zen upgraded Teck Resources to a “buy” rating in a research note on Saturday, May 16th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Teck Resources in a research note on Friday, May 15th. Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a research note on Monday. Finally, Truist Financial set a $67.00 target price on Teck Resources in a research note on Monday, February 23rd. Five investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.