J. Safra Sarasin Holding AG Has $2.20 Million Stake in Teck Resources Ltd $TECK

J. Safra Sarasin Holding AG trimmed its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 24.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,516 shares of the basic materials company’s stock after selling 13,791 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Teck Resources were worth $2,197,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of TECK. Welch Group LLC raised its position in shares of Teck Resources by 3.5% during the fourth quarter. Welch Group LLC now owns 5,899 shares of the basic materials company’s stock valued at $283,000 after buying an additional 199 shares during the last quarter. Compound Planning Inc. grew its position in Teck Resources by 1.0% during the fourth quarter. Compound Planning Inc. now owns 32,266 shares of the basic materials company’s stock worth $1,545,000 after buying an additional 333 shares in the last quarter. 44 Wealth Management LLC grew its position in Teck Resources by 1.3% during the fourth quarter. 44 Wealth Management LLC now owns 31,488 shares of the basic materials company’s stock worth $1,508,000 after buying an additional 411 shares in the last quarter. NewEdge Advisors LLC increased its stake in Teck Resources by 5.5% during the third quarter. NewEdge Advisors LLC now owns 8,635 shares of the basic materials company’s stock valued at $379,000 after acquiring an additional 452 shares during the period. Finally, Blue Trust Inc. increased its stake in Teck Resources by 411.8% during the first quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 453 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Zacks Research downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a research report on Monday, June 15th. Weiss Ratings upgraded Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Wall Street Zen raised Teck Resources to a “buy” rating in a research report on Saturday, May 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Teck Resources from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Five equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, Teck Resources currently has a consensus rating of “Hold” and an average target price of $59.83.

Teck Resources Price Performance

Teck Resources stock opened at $58.49 on Tuesday. The business has a 50 day simple moving average of $62.51 and a 200 day simple moving average of $56.92. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16. The company has a market capitalization of $28.24 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 1.78 and a beta of 0.92. Teck Resources Ltd has a one year low of $30.98 and a one year high of $71.25.

Teck Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Monday, June 15th. Teck Resources’s payout ratio is currently 13.19%.

About Teck Resources

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.