Teck Resources Ltd $TECK Stake Reduced by RWC Asset Management LLP

RWC Asset Management LLP cut its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 37.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 213,497 shares of the basic materials company’s stock after selling 128,381 shares during the quarter. RWC Asset Management LLP’s holdings in Teck Resources were worth $10,224,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its position in Teck Resources by 72.4% in 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 in the last quarter. SouthState Bank Corp bought a new stake in Teck Resources in the third quarter worth about $50,000. Mirae Asset Global Investments Co. Ltd. raised its position 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 worth $76,000 after acquiring an additional 524 shares in the last quarter. Tobam raised its position in Teck Resources by 30.9% in the third quarter. Tobam now owns 2,011 shares of the basic materials company’s stock worth $88,000 after acquiring an additional 475 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Teck Resources by 82.8% in the third quarter. EverSource Wealth Advisors LLC now owns 2,217 shares of the basic materials company’s stock worth $97,000 after acquiring an additional 1,004 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TECK shares. Weiss Ratings upgraded shares of Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, April 24th. Wall Street Zen upgraded Teck Resources to a “buy” rating in a report on Saturday, May 16th. Zacks Research downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. TD Securities restated a “hold” rating on shares of Teck Resources in a report on Friday, April 24th. Finally, JPMorgan Chase & Co. boosted their price objective on Teck Resources from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Five analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat.com, Teck Resources has an average rating of “Hold” and a consensus target price of $59.17.

Teck Resources Price Performance

NYSE TECK opened at $61.60 on Monday. The stock’s 50-day moving average price is $59.70 and its two-hundred day moving average price is $53.64. The company has a current ratio of 2.83, a quick ratio of 2.16 and a debt-to-equity ratio of 0.13. The company has a market cap of $29.70 billion, a PE ratio of 22.56, a PEG ratio of 4.52 and a beta of 0.89. Teck Resources Ltd has a 1 year low of $30.98 and a 1 year high of $71.25.

Teck Resources Announces Dividend

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

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.