Barings LLC Has $6.21 Million Stock Holdings in Teck Resources Ltd $TECK

Barings LLC lifted its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 35.6% during the fourth quarter, Holdings Channel reports. The firm owned 129,609 shares of the basic materials company’s stock after purchasing an additional 34,027 shares during the quarter. Barings LLC’s holdings in Teck Resources were worth $6,207,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Teck Resources by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 20,185,694 shares of the basic materials company’s stock worth $966,370,000 after purchasing an additional 278,481 shares during the period. Principal Financial Group Inc. raised its position in shares of Teck Resources by 11.6% during the fourth quarter. Principal Financial Group Inc. now owns 18,832,299 shares of the basic materials company’s stock worth $902,769,000 after purchasing an additional 1,953,070 shares during the period. Davis Selected Advisers raised its position in shares of Teck Resources by 9.0% during the fourth quarter. Davis Selected Advisers now owns 12,019,609 shares of the basic materials company’s stock worth $575,620,000 after purchasing an additional 995,947 shares during the period. Norges Bank acquired a new stake in shares of Teck Resources during the fourth quarter worth $404,880,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Teck Resources by 11.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 7,939,413 shares of the basic materials company’s stock worth $380,218,000 after purchasing an additional 836,879 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Stock Performance

Shares of TECK stock opened at $63.68 on Friday. Teck Resources Ltd has a 1-year low of $30.98 and a 1-year high of $71.25. The company has a current ratio of 2.83, a quick ratio of 2.16 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $30.70 billion, a price-to-earnings ratio of 23.32, a P/E/G ratio of 4.30 and a beta of 0.89. The stock’s fifty day simple moving average is $60.71 and its 200-day simple moving average is $54.27.

Teck Resources Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TECK. TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a research report on Friday, April 24th. Truist Financial set a $67.00 target price on Teck Resources in a research report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Teck Resources in a report on Friday, May 15th. Weiss Ratings upgraded Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a report on Tuesday, April 14th. Five analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat.com, Teck Resources has a consensus rating of “Hold” and a consensus target price of $59.17.

About Teck Resources

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.