Teck Resources Ltd $TECK Shares Sold by PCJ Investment Counsel Ltd.

PCJ Investment Counsel Ltd. lowered its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 31.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 36,630 shares of the basic materials company’s stock after selling 16,630 shares during the period. PCJ Investment Counsel Ltd.’s holdings in Teck Resources were worth $1,606,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of TECK. Principal Financial Group Inc. boosted its stake in shares of Teck Resources by 36.1% in the third quarter. Principal Financial Group Inc. now owns 16,879,229 shares of the basic materials company’s stock worth $740,604,000 after buying an additional 4,474,637 shares during the last quarter. Norges Bank purchased a new position in Teck Resources during the second quarter valued at approximately $437,657,000. Boston Partners lifted its holdings in Teck Resources by 1.2% in the second quarter. Boston Partners now owns 9,365,206 shares of the basic materials company’s stock valued at $378,167,000 after acquiring an additional 113,431 shares during the period. Mackenzie Financial Corp boosted its position in Teck Resources by 32.7% in the 2nd quarter. Mackenzie Financial Corp now owns 7,989,715 shares of the basic materials company’s stock worth $323,311,000 after purchasing an additional 1,969,286 shares in the last quarter. Finally, Hancock Prospecting Pty Ltd boosted its position in Teck Resources by 19.1% in the 2nd quarter. Hancock Prospecting Pty Ltd now owns 7,695,949 shares of the basic materials company’s stock worth $310,762,000 after purchasing an additional 1,232,373 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TECK. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $46.00 target price on shares of Teck Resources in a report on Wednesday, November 26th. Veritas upgraded shares of Teck Resources from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 15th. National Bank Financial downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. UBS Group reissued a “buy” rating on shares of Teck Resources in a research note on Tuesday, January 27th. Finally, TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $57.00.

Teck Resources Price Performance

Shares of Teck Resources stock opened at $52.44 on Wednesday. The stock has a market capitalization of $25.24 billion, a P/E ratio of 25.96, a PEG ratio of 3.11 and a beta of 0.77. The business has a 50 day simple moving average of $54.60 and a two-hundred day simple moving average of $46.22. Teck Resources Ltd has a 12 month low of $28.32 and a 12 month high of $62.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.54 and a quick ratio of 1.91.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, February 19th. The basic materials company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.39. Teck Resources had a return on equity of 5.90% and a net margin of 12.98%.The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period in the previous year, the company posted $0.45 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. As a group, analysts predict that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, March 13th. Teck Resources’s dividend payout ratio (DPR) is currently 17.82%.

Teck Resources 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.