Teck Resources Ltd $TECK Shares Sold by Cloverfields Capital Group LP

Cloverfields Capital Group LP trimmed its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 92.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,593 shares of the basic materials company’s stock after selling 99,845 shares during the period. Cloverfields Capital Group LP’s holdings in Teck Resources were worth $412,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Korea Investment CORP increased its position in shares of Teck Resources by 163.6% during the fourth quarter. Korea Investment CORP now owns 595,867 shares of the basic materials company’s stock worth $28,564,000 after acquiring an additional 369,811 shares during the period. Summit Financial LLC acquired a new stake in Teck Resources in the fourth quarter valued at $201,000. Northwest & Ethical Investments L.P. raised its stake in Teck Resources by 27.1% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 121,487 shares of the basic materials company’s stock valued at $5,815,000 after buying an additional 25,892 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Teck Resources by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,156,818 shares of the basic materials company’s stock valued at $246,962,000 after buying an additional 37,924 shares in the last quarter. Finally, M&G PLC raised its stake in Teck Resources by 9.4% in the fourth quarter. M&G PLC now owns 716,307 shares of the basic materials company’s stock valued at $34,383,000 after buying an additional 61,410 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analyst Upgrades and Downgrades

TECK has been the topic of several research reports. Wall Street Zen raised Teck Resources to a “buy” rating in a report on Saturday, May 16th. Truist Financial set a $67.00 price target on Teck Resources in a report on Monday, February 23rd. Zacks Research downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Veritas downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Teck Resources from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Five equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $59.17.

Teck Resources Trading Up 1.9%

Shares of Teck Resources stock opened at $64.80 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16. Teck Resources Ltd has a 1 year low of $30.98 and a 1 year high of $71.25. The company has a market capitalization of $31.24 billion, a P/E ratio of 23.74, a P/E/G ratio of 3.85 and a beta of 0.89. The business has a 50 day moving average price of $60.94 and a 200 day moving average price of $54.35.

Teck Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, June 15th. Teck Resources’s payout ratio is presently 13.55%.

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.