Teck Resources Ltd $TECK Stake Cut by Barings LLC

Barings LLC lessened its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 33.3% in the third quarter, HoldingsChannel.com reports. The firm owned 95,582 shares of the basic materials company’s stock after selling 47,797 shares during the period. Barings LLC’s holdings in Teck Resources were worth $4,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc bought a new position in shares of Teck Resources in the 3rd quarter worth about $26,000. Smartleaf Asset Management LLC raised its stake in Teck Resources by 72.4% during the third quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 351 shares during the period. SouthState Bank Corp bought a new position in Teck Resources in the third quarter worth about $50,000. Tobam acquired a new position in Teck Resources in the second quarter valued at approximately $62,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Teck Resources by 43.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,741 shares of the basic materials company’s stock valued at $76,000 after acquiring an additional 524 shares during the period. Institutional investors own 78.06% of the company’s stock.

Trending Headlines about Teck Resources

Here are the key news stories impacting Teck Resources this week:

• Positive Sentiment: Q4 earnings beat — Teck reported EPS of $0.98, beating consensus (~$0.59) and up sharply year-over-year, supporting upgraded profitability metrics and investor confidence. Read More.
• Positive Sentiment: Merger progress with Anglo American — Management described the proposed Anglo American transaction as transformational and reported continued progress on the deal, which markets view as a strategic positive for scale in critical minerals. Read More.
• Positive Sentiment: Copper tailwind and strong cash momentum — Higher copper prices materially boosted Q4 earnings and management flagged strong Q4 momentum and cash generation in its press release/slide deck. Read More.
• Neutral Sentiment: Dividend declared — Teck announced a quarterly dividend of $0.125/share (ex-dividend March 13), a modest yield that signals capital return but is unlikely to be a major catalyst.
• Neutral Sentiment: Output guidance reaffirmed — Management reaffirmed production guidance including for Quebrada Blanca, reducing near-term operational uncertainty. Read More.
• Negative Sentiment: Revenue slightly below consensus — Q4 revenue was $2.23B vs. consensus ~$2.28B, a small topline miss that tempers the beat and could limit upside if commodity prices soften. Read More.

Teck Resources Price Performance

Shares of TECK opened at $59.45 on Friday. Teck Resources Ltd has a one year low of $28.32 and a one year high of $60.75. The stock’s fifty day moving average is $52.05 and its 200-day moving average is $44.03. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.08 and a current ratio of 2.78. The firm has a market capitalization of $28.62 billion, a price-to-earnings ratio of 29.43, a price-to-earnings-growth ratio of 0.55 and a beta of 0.80.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, February 19th. The basic materials company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.39. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.28 billion. Teck Resources had a net margin of 12.98% and a return on equity of 5.90%. Teck Resources’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 EPS. Equities analysts anticipate that Teck Resources Ltd will post 1.53 EPS for the current year.

Teck Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a $0.125 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.50 annualized dividend and a dividend yield of 0.8%. Teck Resources’s dividend payout ratio (DPR) is 20.22%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Teck Resources in a research report on Wednesday, January 21st. Veritas upgraded Teck Resources from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 15th. Scotiabank reissued a “sector perform” rating on shares of Teck Resources in a report on Monday, January 26th. TD Securities cut shares of Teck Resources from a “buy” rating to a “hold” rating in a report on Thursday, January 22nd. Finally, Citigroup raised shares of Teck Resources from a “neutral” rating to a “buy” rating in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $53.33.

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.