ABN Amro Investment Solutions Sells 166,793 Shares of Teck Resources Ltd $TECK

ABN Amro Investment Solutions trimmed its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 32.6% during the 1st quarter, Holdings Channel reports. The firm owned 344,196 shares of the basic materials company’s stock after selling 166,793 shares during the period. ABN Amro Investment Solutions’ holdings in Teck Resources were worth $17,812,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Teck Resources in the fourth quarter worth about $404,880,000. Wellington Management Group LLP lifted its holdings in Teck Resources by 264.5% in the 3rd quarter. Wellington Management Group LLP now owns 5,781,060 shares of the basic materials company’s stock worth $253,695,000 after purchasing an additional 4,194,868 shares in the last quarter. Pentwater Capital Management LP lifted its holdings in Teck Resources by 124.1% in the 4th quarter. Pentwater Capital Management LP now owns 6,500,000 shares of the basic materials company’s stock worth $311,285,000 after purchasing an additional 3,600,000 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Teck Resources in the 4th quarter worth approximately $169,999,000. Finally, Principal Financial Group Inc. raised its position in shares of Teck Resources by 17.1% during the first quarter. Principal Financial Group Inc. now owns 22,044,284 shares of the basic materials company’s stock valued at $1,139,051,000 after buying an additional 3,211,985 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Up 4.2%

Shares of NYSE TECK opened at $56.80 on Wednesday. Teck Resources Ltd has a twelve month low of $30.98 and a twelve month high of $71.25. The firm has a market cap of $27.42 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92. The business has a fifty day simple moving average of $61.78 and a two-hundred day simple moving average of $57.32. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Monday, June 15th. Teck Resources’s payout ratio is presently 13.19%.

Analyst Ratings Changes

TECK has been the topic of several research analyst reports. Veritas cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. Wall Street Zen upgraded Teck Resources from a “buy” rating to a “strong-buy” rating in a research report on Saturday. JPMorgan Chase & Co. dropped their target price on Teck Resources from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. TD Securities reissued a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. Finally, Scotiabank restated a “sector perform” rating on shares of Teck Resources in a research report on Monday, June 15th. Five investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Teck Resources currently has a consensus rating of “Hold” and a consensus target price of $63.00.

About Teck Resources

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.