Assetmark Inc. Sells 45,083 Shares of Teck Resources Ltd $TECK

Assetmark Inc. lessened its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 63.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,835 shares of the basic materials company’s stock after selling 45,083 shares during the period. Assetmark Inc.’s holdings in Teck Resources were worth $1,337,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Brown Brothers Harriman & Co. bought a new position in shares of Teck Resources during the 4th quarter valued at approximately $25,000. Blue Trust Inc. boosted its stake in shares of Teck Resources by 411.8% during the first quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 453 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings 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 worth $29,000 after buying an additional 303 shares during the period. Flagship Harbor Advisors LLC bought a new stake in Teck Resources during the 4th quarter valued at $103,000. Finally, Banque Cantonale Vaudoise increased its holdings in shares of Teck Resources by 5,102.0% in the 3rd quarter. Banque Cantonale Vaudoise now owns 2,549 shares of the basic materials company’s stock valued at $112,000 after acquiring an additional 2,500 shares during the period. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Key Teck Resources News

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

Teck Resources Stock Up 0.8%

TECK stock opened at $60.30 on Friday. The company has a market capitalization of $29.12 billion, a P/E ratio of 16.34, a price-to-earnings-growth 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. The firm’s fifty day simple moving average is $61.46 and its 200-day simple moving average is $57.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16.

Teck Resources Dividend Announcement

The business also recently disclosed 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. This represents a $0.50 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Teck Resources’s payout ratio is 9.76%.

Analyst Ratings Changes

A number of brokerages recently weighed in on TECK. Wall Street Zen upgraded Teck Resources from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. Raymond James Financial upgraded shares of Teck Resources from a “market perform” rating to an “outperform” rating in a report on Thursday. Zacks Research lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Veritas cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Teck Resources in a research report on Tuesday. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $62.00.

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.