Teck Resources Ltd $TECK Stock Position Decreased by TD Asset Management Inc

TD Asset Management Inc cut its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 51.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,529,596 shares of the basic materials company’s stock after selling 2,636,436 shares during the quarter. TD Asset Management Inc’s holdings in Teck Resources were worth $121,262,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Anchor Capital Advisors LLC boosted its stake in shares of Teck Resources by 14.6% during the 4th quarter. Anchor Capital Advisors LLC now owns 632,750 shares of the basic materials company’s stock worth $30,302,000 after acquiring an additional 80,692 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Teck Resources by 3.5% during the 4th quarter. CIBC Asset Management Inc now owns 5,646,656 shares of the basic materials company’s stock worth $271,828,000 after acquiring an additional 190,878 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Teck Resources by 11.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 7,939,413 shares of the basic materials company’s stock worth $380,218,000 after acquiring an additional 836,879 shares in the last quarter. Natixis Advisors LLC boosted its stake in shares of Teck Resources by 6.0% during the 4th quarter. Natixis Advisors LLC now owns 686,867 shares of the basic materials company’s stock worth $32,894,000 after acquiring an additional 38,764 shares in the last quarter. Finally, One Capital Management LLC bought a new stake in shares of Teck Resources during the 4th quarter worth $357,000. 78.06% of the stock is owned by institutional investors.

Teck Resources Stock Performance

Shares of TECK opened at $67.26 on Friday. The company’s 50 day moving average price is $59.48 and its 200 day moving average price is $53.49. 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 $32.43 billion, a PE ratio of 24.64, a PEG ratio of 4.93 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.16 and a current ratio of 2.83.

Teck Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, June 15th. Teck Resources’s dividend payout ratio (DPR) is currently 13.55%.

Analyst Ratings Changes

TECK has been the subject of several research reports. Wall Street Zen raised Teck Resources to a “buy” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. increased their target price on Teck Resources from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Truist Financial set a $67.00 target price on Teck Resources in a report on Monday, February 23rd. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a report on Tuesday, April 14th. Finally, Benchmark increased their target price on Teck Resources from $48.00 to $67.00 and gave the company a “buy” rating in a report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.