Teck Resources Ltd $TECK Shares Purchased by Bank of Nova Scotia

Bank of Nova Scotia raised its stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,128,962 shares of the basic materials company’s stock after acquiring an additional 18,877 shares during the period. Bank of Nova Scotia’s holdings in Teck Resources were worth $58,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in TECK. Sei Investments Co. grew its stake in Teck Resources by 28.2% during the 1st quarter. Sei Investments Co. now owns 50,936 shares of the basic materials company’s stock worth $2,636,000 after buying an additional 11,219 shares during the last quarter. Levin Capital Strategies L.P. increased its holdings in shares of Teck Resources by 28.6% in the 1st quarter. Levin Capital Strategies L.P. now owns 347,508 shares of the basic materials company’s stock valued at $17,984,000 after acquiring an additional 77,375 shares during the period. First Trust Advisors LP raised its position in Teck Resources by 167.1% in the 1st quarter. First Trust Advisors LP now owns 23,598 shares of the basic materials company’s stock valued at $1,221,000 after purchasing an additional 14,764 shares during the last quarter. Temasek Holdings Private Ltd raised its position in Teck Resources by 7.1% in the 1st quarter. Temasek Holdings Private Ltd now owns 5,685,453 shares of the basic materials company’s stock valued at $294,015,000 after purchasing an additional 378,069 shares during the last quarter. Finally, Oslo Pensjonsforsikring AS acquired a new stake in Teck Resources during the 1st quarter worth $83,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Trending Headlines about Teck Resources

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 Performance

NYSE TECK opened at $60.30 on Friday. 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 fifty-two week low of $30.98 and a fifty-two week high of $71.25. The business has a fifty day moving average of $61.46 and a 200-day moving average of $57.49. The stock has a market cap of $29.12 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 1.77 and a beta of 0.92.

Teck Resources Dividend Announcement

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

Analysts Set New Price Targets

TECK has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Teck Resources from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of Teck Resources in a research report on Tuesday. Wall Street Zen raised Teck Resources from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. TD Securities reiterated a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. Finally, Raymond James Financial raised Teck Resources from a “market perform” rating to an “outperform” rating in a report on Thursday. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, 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.