HighTower Advisors LLC Boosts Holdings in Teck Resources Ltd $TECK

HighTower Advisors LLC grew its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 23.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,434 shares of the basic materials company’s stock after purchasing an additional 20,915 shares during the period. HighTower Advisors LLC’s holdings in Teck Resources were worth $5,241,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of Teck Resources by 36.1% during the third quarter. Principal Financial Group Inc. now owns 16,879,229 shares of the basic materials company’s stock valued at $740,604,000 after purchasing an additional 4,474,637 shares during the period. Alps Advisors Inc. raised its stake in shares of Teck Resources by 37.3% during the third quarter. Alps Advisors Inc. now owns 166,334 shares of the basic materials company’s stock valued at $7,300,000 after purchasing an additional 45,194 shares during the period. Regal Partners Ltd increased its stake in shares of Teck Resources by 14.8% in the third quarter. Regal Partners Ltd now owns 3,481,836 shares of the basic materials company’s stock worth $152,818,000 after buying an additional 448,081 shares during the last quarter. 44 Wealth Management LLC increased its stake in shares of Teck Resources by 250.8% in the third quarter. 44 Wealth Management LLC now owns 31,077 shares of the basic materials company’s stock worth $1,364,000 after buying an additional 22,219 shares during the last quarter. Finally, Union Bancaire Privee UBP SA increased its stake in shares of Teck Resources by 172.8% in the fourth quarter. Union Bancaire Privee UBP SA now owns 23,560 shares of the basic materials company’s stock worth $1,128,000 after buying an additional 14,924 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Truist Financial set a $67.00 price target on shares of Teck Resources in a research note on Monday, February 23rd. Weiss Ratings upgraded shares of Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a research note on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Teck Resources in a research note on Friday, May 15th. Finally, Zacks Research lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat, Teck Resources presently has an average rating of “Hold” and a consensus target price of $59.17.

Teck Resources Stock Performance

Teck Resources stock opened at $66.12 on Friday. The company has a market cap of $31.87 billion, a PE ratio of 24.22, a P/E/G ratio of 4.78 and a beta of 0.86. The company has a fifty day moving average price of $57.45 and a two-hundred day moving average price of $52.59. 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 Ltd has a 12 month low of $30.98 and a 12 month high of $67.67.

Teck Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.50 annualized dividend and a dividend yield of 0.8%. Teck Resources’s payout ratio is 13.55%.

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.