Teck Resources Ltd $TECK Shares Bought by Barings LLC

Barings LLC lifted its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 35.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,609 shares of the basic materials company’s stock after acquiring an additional 34,027 shares during the quarter. Barings LLC’s holdings in Teck Resources were worth $6,207,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TECK. Norges Bank acquired a new position in shares of Teck Resources in the 4th quarter worth approximately $404,880,000. Wellington Management Group LLP raised its stake in Teck Resources by 264.5% during 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 acquiring an additional 4,194,868 shares in the last quarter. Pentwater Capital Management LP raised its stake in Teck Resources by 7,150.0% during the 3rd quarter. Pentwater Capital Management LP now owns 2,900,000 shares of the basic materials company’s stock valued at $127,281,000 after acquiring an additional 2,860,000 shares in the last quarter. Carrhae Capital LLP bought a new stake in Teck Resources during the 4th quarter valued at $98,841,000. Finally, Maple Rock Capital Partners Inc. bought a new stake in Teck Resources during the 3rd quarter valued at $88,601,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on TECK shares. Truist Financial set a $67.00 target price on Teck Resources in a research note on Monday, February 23rd. Benchmark boosted their price objective on Teck Resources from $48.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. TD Securities reissued a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. Veritas downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Teck Resources in a research note on Friday, May 15th. Five analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, Teck Resources has a consensus rating of “Hold” and an average price target of $59.17.

Teck Resources Stock Up 6.3%

TECK opened at $63.68 on Friday. Teck Resources Ltd has a one year low of $30.98 and a one year high of $71.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.16 and a current ratio of 2.83. The stock’s fifty day moving average is $60.71 and its 200-day moving average is $54.27. The company has a market capitalization of $30.70 billion, a PE ratio of 23.32, a P/E/G ratio of 4.30 and a beta of 0.89.

Teck Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.50 dividend on an annualized basis 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.