Voya Investment Management LLC Decreases Stake in Teck Resources Ltd $TECK

Voya Investment Management LLC lessened its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 70.9% in the third quarter, Holdings Channel reports. The firm owned 4,998 shares of the basic materials company’s stock after selling 12,161 shares during the period. Voya Investment Management LLC’s holdings in Teck Resources were worth $219,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TECK. Union Bancaire Privee UBP SA increased its position in shares of Teck Resources by 4.3% in the second quarter. Union Bancaire Privee UBP SA now owns 6,402 shares of the basic materials company’s stock worth $259,000 after acquiring an additional 264 shares in the last quarter. Stephens Inc. AR increased its holdings in Teck Resources by 4.8% in the 2nd quarter. Stephens Inc. AR now owns 7,189 shares of the basic materials company’s stock valued at $290,000 after purchasing an additional 329 shares in the last quarter. Assetmark Inc. raised its position in Teck Resources by 2.1% in the second quarter. Assetmark Inc. now owns 20,360 shares of the basic materials company’s stock valued at $822,000 after purchasing an additional 415 shares during the period. VestGen Advisors LLC lifted its stake in shares of Teck Resources by 7.9% during the second quarter. VestGen Advisors LLC now owns 6,353 shares of the basic materials company’s stock worth $257,000 after purchasing an additional 467 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its position in shares of Teck Resources by 8.8% in the second quarter. Yousif Capital Management LLC now owns 6,129 shares of the basic materials company’s stock worth $247,000 after buying an additional 495 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Stock Performance

Shares of Teck Resources stock opened at $51.26 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.08 and a current ratio of 2.78. Teck Resources Ltd has a 1 year low of $28.32 and a 1 year high of $52.24. The firm’s 50-day simple moving average is $43.88 and its 200-day simple moving average is $40.12. The firm has a market cap of $24.64 billion, a PE ratio of 28.80, a price-to-earnings-growth ratio of 0.61 and a beta of 0.79.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.16. Teck Resources had a return on equity of 4.14% and a net margin of 11.93%.The firm had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. Teck Resources’s revenue for the quarter was up 18.4% compared to the same quarter last year. Equities analysts forecast that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.50 annualized dividend and a dividend yield of 1.0%. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio is currently 20.22%.

Analysts Set New Price Targets

TECK has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price target on Teck Resources from $43.00 to $51.00 and gave the stock a “neutral” rating in a research report on Friday, December 5th. Scotiabank reissued a “sector perform” rating on shares of Teck Resources in a research report on Tuesday, November 25th. Citigroup reaffirmed a “neutral” rating on shares of Teck Resources in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $46.00 price target on shares of Teck Resources in a research note on Wednesday, November 26th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Teck Resources in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $55.71.

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.