Ninety One SA Pty Ltd Sells 176,988 Shares of Teck Resources Ltd $TECK

Ninety One SA Pty Ltd lowered its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 55.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 144,433 shares of the basic materials company’s stock after selling 176,988 shares during the quarter. Ninety One SA Pty Ltd’s holdings in Teck Resources were worth $6,917,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of TECK. Principal Financial Group Inc. increased its position 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 worth $740,604,000 after acquiring an additional 4,474,637 shares during the period. Alps Advisors Inc. boosted its holdings in shares of Teck Resources by 37.3% in 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 grew its stake in 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 purchasing an additional 448,081 shares in the last quarter. 44 Wealth Management LLC grew its stake in 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 purchasing an additional 22,219 shares in the last quarter. Finally, Canoe Financial LP increased its holdings in Teck Resources by 38.9% during the 3rd quarter. Canoe Financial LP now owns 3,348,736 shares of the basic materials company’s stock worth $146,870,000 after purchasing an additional 938,702 shares during the period. Institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Performance

TECK stock opened at $59.31 on Friday. Teck Resources Ltd has a one year low of $30.98 and a one year high of $62.41. The firm has a market cap of $28.59 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 2.93 and a beta of 0.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.54. The firm has a 50-day simple moving average of $54.55 and a two-hundred day simple moving average of $48.95.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.39. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.28 billion. Teck Resources had a net margin of 12.98% and a return on equity of 5.90%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 EPS. On average, equities analysts forecast that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Friday, March 13th. Teck Resources’s payout ratio is currently 18.32%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TECK shares. TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a research report on Monday, February 23rd. Citigroup upgraded Teck Resources from a “neutral” rating to a “buy” rating in a report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Teck Resources in a report on Wednesday, January 21st. Raymond James Financial lowered shares of Teck Resources from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 14th. Finally, Zacks Research raised shares of Teck Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 23rd. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $59.67.

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.