Arrowstreet Capital Limited Partnership Purchases 1,720,066 Shares of Teck Resources Ltd $TECK

Arrowstreet Capital Limited Partnership increased its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 48.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,270,386 shares of the basic materials company’s stock after buying an additional 1,720,066 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Teck Resources were worth $272,955,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. purchased a new stake in Teck Resources during the fourth quarter valued at approximately $25,000. Blue Trust Inc. raised its holdings in Teck Resources by 411.8% in the 1st quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 453 shares during the period. Geneos Wealth Management Inc. lifted its position in Teck Resources by 117.4% during the first quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 303 shares in the last quarter. Oslo Pensjonsforsikring AS bought a new stake in Teck Resources during the first quarter valued at about $83,000. Finally, Flagship Harbor Advisors LLC bought a new stake in Teck Resources during the fourth quarter valued at about $103,000. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Stock Up 0.8%

Shares of NYSE TECK opened at $60.30 on Friday. The firm’s 50-day moving average price is $61.46 and its 200-day moving average price is $57.49. The company has a current ratio of 2.83, a quick ratio of 2.16 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $29.12 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 1.77 and a beta of 0.92. Teck Resources Ltd has a 12-month low of $30.98 and a 12-month high of $71.25.

Teck Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a $0.125 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.8%. Teck Resources’s payout ratio is 9.76%.

Teck Resources News Summary

Here are the key news stories impacting Teck Resources this week:

• Positive Sentiment: Teck’s Q2 earnings and revenue beat expectations, driven by stronger copper and zinc prices, higher sales volumes, and margin expansion. Teck Resources Q2 Earnings Beat Estimates, Sales & Margins Improve Y/Y
• Positive Sentiment: The company reported a sharp jump in quarterly profit on higher copper production and commodity prices, reinforcing optimism around Teck’s core metals business. Teck earns $854M Q2 profit, reports copper production up and higher commodity prices
• Positive Sentiment: Teck’s board declared a quarterly dividend of $0.125 per share, signaling continued cash generation and shareholder returns. Teck Announces Dividend
• Neutral Sentiment: Red Dog zinc output fell 18% in the quarter, though Teck said it is advancing a mine-life extension study and maintained full-year zinc guidance. Teck’s Red Dog Q2 Zinc Output Falls 18% as Mine-Life Extension PFS Advances
• Neutral Sentiment: Teck maintained its full-year zinc guidance despite the weaker Red Dog output, limiting concerns about near-term production disruption. Teck’s Q2 Zinc Gross Profit Rises to $353 Million; Full-Year Zinc Guidance Maintained

Wall Street Analyst Weigh In

TECK has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Teck Resources from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Veritas lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Scotiabank reissued a “sector perform” rating on shares of Teck Resources in a research note on Monday, June 15th. Wall Street Zen upgraded shares of Teck Resources from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 18th. Finally, Zacks Research cut shares of 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 nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $62.00.

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.