Teck Resources Ltd $TECK Stake Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 13.5% in the first quarter, HoldingsChannel.com reports. The firm owned 920,353 shares of the basic materials company’s stock after selling 143,991 shares during the period. Bank of New York Mellon Corp’s holdings in Teck Resources were worth $47,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank acquired a new position in Teck Resources in the fourth quarter valued at approximately $404,880,000. Wellington Management Group LLP lifted its position 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 valued at $253,695,000 after purchasing an additional 4,194,868 shares during the last quarter. Pentwater Capital Management LP boosted its stake in Teck Resources by 124.1% during the 4th quarter. Pentwater Capital Management LP now owns 6,500,000 shares of the basic materials company’s stock valued at $311,285,000 after purchasing an additional 3,600,000 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Teck Resources during the 4th quarter worth $169,999,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Teck Resources by 17.1% in 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 acquiring an additional 3,211,985 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on TECK shares. Zacks Research downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. decreased their target price 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. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a report on Monday, June 15th. Wall Street Zen raised shares of Teck Resources from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. Finally, TD Securities reiterated a “hold” rating on shares of Teck Resources in a report on Friday, April 24th. Five equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Teck Resources currently has an average rating of “Hold” and a consensus target price of $62.00.

More 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 Trading Up 0.8%

Shares of TECK stock opened at $60.30 on Friday. The firm 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 1 year low of $30.98 and a 1 year 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 current ratio of 2.83, a quick ratio of 2.16 and a debt-to-equity ratio of 0.13.

Teck Resources Announces Dividend

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

Teck Resources 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.