Public Employees Retirement System of Ohio Has $19.07 Million Position in Teck Resources Ltd $TECK

Public Employees Retirement System of Ohio lessened its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 21.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 369,804 shares of the basic materials company’s stock after selling 102,260 shares during the period. Public Employees Retirement System of Ohio’s holdings in Teck Resources were worth $19,068,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. AQR Capital Management LLC raised its holdings in Teck Resources by 11.1% during the 1st quarter. AQR Capital Management LLC now owns 34,705 shares of the basic materials company’s stock worth $1,264,000 after buying an additional 3,458 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Teck Resources by 453.0% in the first quarter. Jones Financial Companies Lllp now owns 9,721 shares of the basic materials company’s stock valued at $354,000 after buying an additional 7,963 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Teck Resources by 1.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 465,861 shares of the basic materials company’s stock valued at $16,971,000 after buying an additional 8,146 shares during the period. Marshall Wace LLP increased its position in shares of Teck Resources by 189.3% during the second quarter. Marshall Wace LLP now owns 218,242 shares of the basic materials company’s stock worth $8,813,000 after acquiring an additional 142,816 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Teck Resources by 4,602.9% during the second quarter. NewEdge Advisors LLC now owns 8,183 shares of the basic materials company’s stock worth $330,000 after acquiring an additional 8,009 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Price Performance

NYSE TECK opened at $60.30 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13. Teck Resources Ltd has a 12-month low of $30.98 and a 12-month high of $71.25. The company has a market capitalization of $29.12 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 1.78 and a beta of 0.92. The firm’s 50 day moving average is $61.46 and its 200-day moving average is $57.49.

Teck Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.125 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.50 annualized dividend and a yield of 0.8%. Teck Resources’s dividend payout ratio is presently 9.76%.

Teck Resources News Roundup

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

• Positive Sentiment: Teck’s Q2 earnings and revenue beat expectations, driven by stronger copper and zinc prices, higher sales volumes, and margin expansion. Teck Resources Q2 Earnings Beat Estimates, Sales & Margins Improve Y/Y
• Positive Sentiment: The company reported a sharp jump in quarterly profit on higher copper production and commodity prices, reinforcing optimism around Teck’s core metals business. Teck earns $854M Q2 profit, reports copper production up and higher commodity prices
• Positive Sentiment: Teck’s board declared a quarterly dividend of $0.125 per share, signaling continued cash generation and shareholder returns. Teck Announces Dividend
• Neutral Sentiment: Red Dog zinc output fell 18% in the quarter, though Teck said it is advancing a mine-life extension study and maintained full-year zinc guidance. Teck’s Red Dog Q2 Zinc Output Falls 18% as Mine-Life Extension PFS Advances
• Neutral Sentiment: Teck maintained its full-year zinc guidance despite the weaker Red Dog output, limiting concerns about near-term production disruption. Teck’s Q2 Zinc Gross Profit Rises to $353 Million; Full-Year Zinc Guidance Maintained

Analyst Ratings Changes

Several research firms recently commented on TECK. Veritas cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft upped their target price 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. TD Securities reiterated a “hold” rating on shares of Teck Resources in a report on Friday, April 24th. Raymond James Financial raised Teck Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. cut their price target on Teck Resources from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. Five investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $62.00.

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.