Teck Resources Ltd $TECK Shares Sold by Barings LLC

Barings LLC decreased its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 21.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 102,025 shares of the basic materials company’s stock after selling 27,584 shares during the period. Barings LLC’s holdings in Teck Resources were worth $5,280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new stake in shares of Teck Resources in the fourth quarter valued at approximately $25,000. Blue Trust Inc. raised its position in Teck Resources by 411.8% in the first quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 453 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Teck Resources by 117.4% in the first quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 303 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in shares of Teck Resources during the 4th quarter worth $103,000. Finally, Banque Cantonale Vaudoise boosted its position in shares of Teck Resources by 5,102.0% during the 3rd quarter. Banque Cantonale Vaudoise now owns 2,549 shares of the basic materials company’s stock worth $112,000 after purchasing an additional 2,500 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TECK shares. TD Securities reiterated a “hold” rating on shares of Teck Resources in a report on Friday, April 24th. Wall Street Zen raised shares of Teck Resources to a “buy” rating in a report on Saturday, May 16th. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a research report on Monday, June 15th. Veritas downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Finally, Weiss Ratings raised Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $63.00.

Teck Resources Trading Down 3.8%

Shares of Teck Resources stock opened at $55.76 on Friday. 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 1 year low of $30.98 and a 1 year high of $71.25. The company has a market capitalization of $26.92 billion, a P/E ratio of 20.43, a P/E/G ratio of 1.72 and a beta of 0.92. The business has a 50 day moving average price of $62.37 and a 200 day moving average price of $57.16.

Teck Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Monday, June 15th. Teck Resources’s dividend payout ratio (DPR) is currently 13.19%.

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.