Douglas Lane & Associates LLC Sells 35,114 Shares of Teck Resources Ltd $TECK

Douglas Lane & Associates LLC trimmed its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 3.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,083,002 shares of the basic materials company’s stock after selling 35,114 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.22% of Teck Resources worth $71,251,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of TECK. Pacifica Partners Inc. increased its stake in shares of Teck Resources by 25.4% in the 3rd quarter. Pacifica Partners Inc. now owns 32,623 shares of the basic materials company’s stock valued at $2,119,000 after buying an additional 6,615 shares during the period. GAMMA Investing LLC lifted its stake in shares of Teck Resources by 6,611.1% during the third quarter. GAMMA Investing LLC now owns 3,020 shares of the basic materials company’s stock valued at $199,000 after acquiring an additional 2,975 shares during the period. Farther Finance Advisors LLC boosted its holdings in Teck Resources by 23.5% in the third quarter. Farther Finance Advisors LLC now owns 7,276 shares of the basic materials company’s stock valued at $479,000 after acquiring an additional 1,384 shares during the last quarter. Central Pacific Bank Trust Division increased its position in Teck Resources by 740.0% in the third quarter. Central Pacific Bank Trust Division now owns 2,520 shares of the basic materials company’s stock worth $166,000 after purchasing an additional 2,220 shares during the period. Finally, HBK Investments L P increased its position in Teck Resources by 264.2% in the second quarter. HBK Investments L P now owns 5,773,121 shares of the basic materials company’s stock worth $343,270,000 after purchasing an additional 4,188,029 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Price Performance

Shares of NYSE TECK traded up $2.25 during midday trading on Friday, reaching $67.07. The company’s stock had a trading volume of 1,305,470 shares, compared to its average volume of 3,569,737. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.33 and a current ratio of 3.12. Teck Resources Ltd has a fifty-two week low of $38.00 and a fifty-two week high of $72.56. The company has a market cap of $32.40 billion, a P/E ratio of 18.24, a P/E/G ratio of 1.97 and a beta of 1.01. The business’s 50 day moving average price is $66.65 and its two-hundred day moving average price is $62.04.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.40. The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Teck Resources had a net margin of 17.85% and a return on equity of 10.42%. Teck Resources’s revenue was up 78.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 earnings per share. On average, analysts forecast that Teck Resources Ltd will post 4.15 EPS for the current fiscal year.

Teck Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were given a dividend of C$0.12 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, September 15th. Teck Resources’s dividend payout ratio is currently 9.76%.

Analyst Ratings Changes

TECK has been the topic of a number of analyst reports. Scotiabank reissued a “sector perform” rating on shares of Teck Resources in a research note on Monday, June 15th. Weiss Ratings raised shares of Teck Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 4th. JPMorgan Chase & Co. lifted their price target on Teck Resources from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. Raymond James Financial upgraded Teck Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Teck Resources from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.25.

Teck Resources Profile

Teck Resources Limited is a Canadian mining and metals company headquartered in Vancouver, British Columbia. The company focuses primarily on the exploration, development and production of copper and zinc, which are used in construction, infrastructure, manufacturing and the global energy transition.

Teck’s copper operations include the Highland Valley Copper mine in British Columbia, the Carmen de Andacollo mine in Chile and the Quebrada Blanca operation in northern Chile. Its zinc business includes the Red Dog mine in Alaska, one of the world’s significant zinc-producing operations.