Teck Resources Ltd $TECK Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lessened its stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 21.2% in the first quarter, HoldingsChannel.com reports. The firm owned 2,809,272 shares of the basic materials company’s stock after selling 755,460 shares during the quarter. Janus Henderson Group PLC’s holdings in Teck Resources were worth $145,116,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Temasek Holdings Private Ltd boosted its position in Teck Resources by 1.1% during the fourth quarter. Temasek Holdings Private Ltd now owns 5,307,384 shares of the basic materials company’s stock worth $254,171,000 after purchasing an additional 57,380 shares in the last quarter. New York Life Investment Management LLC purchased a new position in shares of Teck Resources in the fourth quarter valued at $11,014,000. Cardinal Point Capital Management ULC purchased a new position in shares of Teck Resources in the fourth quarter valued at $379,000. ABN Amro Investment Solutions raised its stake in shares of Teck Resources by 156.4% during the 4th quarter. ABN Amro Investment Solutions now owns 510,989 shares of the basic materials company’s stock worth $24,471,000 after buying an additional 311,694 shares during the last quarter. Finally, Perpetual Ltd acquired a new position in shares of Teck Resources during the 4th quarter worth $26,838,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

TECK has been the topic of a number of research reports. Veritas cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. JPMorgan Chase & Co. lifted their target price on shares of Teck Resources from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a report on Monday, June 15th. Raymond James Financial upgraded shares of Teck Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 23rd. Finally, Wall Street Zen cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Five equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $62.25.

Teck Resources Stock Down 3.7%

TECK opened at $60.19 on Friday. The company has a quick ratio of 2.16, a current ratio of 3.12 and a debt-to-equity ratio of 0.12. The firm has a market cap of $29.07 billion, a P/E ratio of 16.31, a PEG ratio of 1.83 and a beta of 0.92. Teck Resources Ltd has a 52 week low of $30.98 and a 52 week high of $71.25. The business’s fifty day simple moving average is $61.30 and its 200 day simple moving average is $57.83.

Teck Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, September 15th. Teck Resources’s dividend payout ratio is 9.76%.

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.