Senator Investment Group LP Trims Stock Holdings in Teck Resources Ltd $TECK

Senator Investment Group LP trimmed its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 16.5% in the 4th quarter, HoldingsChannel reports. The fund owned 1,659,442 shares of the basic materials company’s stock after selling 328,227 shares during the quarter. Teck Resources makes up about 3.2% of Senator Investment Group LP’s holdings, making the stock its 11th largest holding. Senator Investment Group LP’s holdings in Teck Resources were worth $79,471,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Welch Group LLC increased its holdings in Teck Resources by 3.5% in the 4th quarter. Welch Group LLC now owns 5,899 shares of the basic materials company’s stock worth $283,000 after acquiring an additional 199 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Teck Resources by 72.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 351 shares in the last quarter. GSA Capital Partners LLP increased its holdings in Teck Resources by 1.0% in the 3rd quarter. GSA Capital Partners LLP now owns 40,941 shares of the basic materials company’s stock worth $1,797,000 after acquiring an additional 409 shares in the last quarter. 44 Wealth Management LLC increased its holdings in Teck Resources by 1.3% in the 4th quarter. 44 Wealth Management LLC now owns 31,488 shares of the basic materials company’s stock worth $1,508,000 after acquiring an additional 411 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in Teck Resources by 5.5% in the 3rd quarter. NewEdge Advisors LLC now owns 8,635 shares of the basic materials company’s stock worth $379,000 after acquiring an additional 452 shares in the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Trading Up 1.9%

TECK stock opened at $66.07 on Tuesday. Teck Resources Ltd has a 1-year low of $30.98 and a 1-year high of $71.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16. The company has a market capitalization of $31.85 billion, a price-to-earnings ratio of 24.20, a PEG ratio of 3.93 and a beta of 0.89. The business has a 50 day simple moving average of $61.21 and a two-hundred day simple moving average of $54.61.

Teck Resources Announces Dividend

The firm also recently declared 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. This represents a $0.50 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, June 15th. Teck Resources’s dividend payout ratio is presently 13.55%.

Analyst Ratings Changes

Several research firms recently issued reports on TECK. Weiss Ratings raised shares of Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Veritas lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. TD Securities reissued 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. Finally, JPMorgan Chase & Co. upped their price target on Teck Resources from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Five equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $59.17.

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.