Temasek Holdings Private Ltd Has $144.05 Million Stock Holdings in Teck Resources Ltd $TECK

Temasek Holdings Private Ltd increased its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 43.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,567,379 shares of the basic materials company’s stock after purchasing an additional 1,087,824 shares during the period. Teck Resources comprises about 0.6% of Temasek Holdings Private Ltd’s investment portfolio, making the stock its 28th largest position. Temasek Holdings Private Ltd’s holdings in Teck Resources were worth $144,051,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Teck Resources during the 2nd quarter worth about $437,657,000. 1832 Asset Management L.P. grew its holdings in shares of Teck Resources by 1,555.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 5,738,457 shares of the basic materials company’s stock valued at $231,719,000 after buying an additional 5,391,907 shares during the period. Canoe Financial LP bought a new stake in shares of Teck Resources in the 2nd quarter valued at $97,536,000. Picton Mahoney Asset Management bought a new position in Teck Resources during the second quarter worth about $83,322,000. Finally, Mackenzie Financial Corp grew its stake in Teck Resources by 32.7% in the second quarter. Mackenzie Financial Corp now owns 7,989,715 shares of the basic materials company’s stock valued at $323,311,000 after acquiring an additional 1,969,286 shares during the period. 78.06% of the stock is owned by institutional investors.

Teck Resources Trading Up 0.5%

Teck Resources stock opened at $45.10 on Monday. The company has a market cap of $21.68 billion, a price-to-earnings ratio of 25.33, a P/E/G ratio of 0.65 and a beta of 0.83. The firm has a 50-day moving average of $42.62 and a 200-day moving average of $38.83. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.78 and a quick ratio of 2.08. Teck Resources Ltd has a one year low of $28.32 and a one year high of $47.85.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.16. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.93 billion. Teck Resources had a return on equity of 4.14% and a net margin of 11.93%.Teck Resources’s revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 earnings per share. On average, equities analysts expect that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a $0.125 dividend. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. This represents a $0.50 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, December 15th. Teck Resources’s dividend payout ratio (DPR) is 20.22%.

Analyst Ratings Changes

TECK has been the subject of several research analyst reports. Veritas lowered Teck Resources from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Citigroup reaffirmed a “neutral” rating on shares of Teck Resources in a research report on Wednesday, October 8th. Raymond James Financial reissued an “outperform” rating on shares of Teck Resources in a research note on Friday, October 10th. Benchmark reaffirmed a “buy” rating on shares of Teck Resources in a research report on Thursday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $46.00 target price on shares of Teck Resources in a research report on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Teck Resources currently has a consensus rating of “Hold” and a consensus target price of $55.71.

About Teck Resources

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.