Governors Lane LP Acquires Shares of 127,151 Teck Resources Ltd $TECK

Governors Lane LP acquired a new stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) during the 4th quarter, Holdings Channel.com reports. The fund acquired 127,151 shares of the basic materials company’s stock, valued at approximately $6,089,000.

A number of other institutional investors and hedge funds have also bought and sold shares of TECK. AQR Capital Management LLC lifted its position in Teck Resources by 11.1% during the first quarter. AQR Capital Management LLC now owns 34,705 shares of the basic materials company’s stock worth $1,264,000 after acquiring an additional 3,458 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of Teck Resources by 453.0% during 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Teck Resources by 1.8% during the 1st 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 stake in Teck Resources by 189.3% in the 2nd quarter. Marshall Wace LLP now owns 218,242 shares of the basic materials company’s stock valued at $8,813,000 after purchasing an additional 142,816 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in Teck Resources by 4,602.9% in the 2nd quarter. NewEdge Advisors LLC now owns 8,183 shares of the basic materials company’s stock valued at $330,000 after purchasing an additional 8,009 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Trading Down 1.9%

TECK opened at $65.72 on Thursday. The company has a fifty day moving average of $61.75 and a 200-day moving average of $54.94. Teck Resources Ltd has a twelve month low of $30.98 and a twelve month high of $71.25. The stock has a market cap of $31.69 billion, a PE ratio of 24.07, a price-to-earnings-growth ratio of 4.06 and a beta of 0.89. 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 Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, June 15th. Teck Resources’s dividend payout ratio (DPR) is 13.19%.

Analyst Ratings Changes

Several research firms have weighed in on TECK. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Teck Resources in a research report on Friday, May 15th. TD Securities reiterated a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. Benchmark raised their target price on shares of Teck Resources from $48.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Truist Financial set a $67.00 price target on shares of Teck Resources in a research report on Monday, February 23rd. Finally, JPMorgan Chase & Co. increased their price target on Teck Resources from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Five investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently 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.