Temasek Holdings Private Ltd Grows Position in Teck Resources Ltd $TECK

Temasek Holdings Private Ltd lifted its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,307,384 shares of the basic materials company’s stock after buying an additional 57,380 shares during the period. Teck Resources makes up 0.8% of Temasek Holdings Private Ltd’s portfolio, making the stock its 23rd biggest position. Temasek Holdings Private Ltd’s holdings in Teck Resources were worth $254,171,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TECK. AQR Capital Management LLC boosted its position in Teck Resources by 11.1% in the first quarter. AQR Capital Management LLC now owns 34,705 shares of the basic materials company’s stock worth $1,264,000 after purchasing an additional 3,458 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Teck Resources by 453.0% in the first quarter. Jones Financial Companies Lllp now owns 9,721 shares of the basic materials company’s stock worth $354,000 after purchasing an additional 7,963 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Teck Resources by 1.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 465,861 shares of the basic materials company’s stock worth $16,971,000 after purchasing an additional 8,146 shares during the last quarter. Marshall Wace LLP boosted its position in Teck Resources by 189.3% in the second quarter. Marshall Wace LLP now owns 218,242 shares of the basic materials company’s stock worth $8,813,000 after purchasing an additional 142,816 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position in Teck Resources by 4,602.9% in the second quarter. NewEdge Advisors LLC now owns 8,183 shares of the basic materials company’s stock worth $330,000 after purchasing an additional 8,009 shares during the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Stock Up 1.9%

NYSE TECK opened at $66.07 on Tuesday. The stock’s 50-day moving average price is $61.21 and its 200-day moving average price is $54.61. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13. Teck Resources Ltd has a 52 week low of $30.98 and a 52 week high of $71.25. The company has a market capitalization of $31.85 billion, a P/E ratio of 24.20, a price-to-earnings-growth ratio of 3.93 and a beta of 0.89.

Teck Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.50 annualized dividend and a dividend yield of 0.8%. Teck Resources’s dividend payout ratio (DPR) is 13.55%.

Wall Street Analyst Weigh In

TECK has been the topic of several research reports. JPMorgan Chase & Co. raised their target price on Teck Resources from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Truist Financial set a $67.00 target price on Teck Resources in a research report on Monday, February 23rd. Zacks Research cut Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Scotiabank reissued a “sector perform” rating on shares of Teck Resources in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Teck Resources in a research report on Friday, May 15th. Five analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat.com, Teck Resources currently has a consensus rating of “Hold” and a consensus target price of $59.17.

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.