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% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Teck Resources by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 20,185,694 shares of the basic materials company’s stock worth $966,370,000 after purchasing an additional 278,481 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Teck Resources by 11.6% during the 4th quarter. Principal Financial Group Inc. now owns 18,832,299 shares of the basic materials company’s stock worth $902,769,000 after purchasing an additional 1,953,070 shares during the last quarter. Davis Selected Advisers increased its holdings in Teck Resources by 9.0% during the 4th quarter. Davis Selected Advisers now owns 12,019,609 shares of the basic materials company’s stock worth $575,620,000 after purchasing an additional 995,947 shares during the last quarter. Norges Bank purchased a new stake in Teck Resources during the 4th quarter worth approximately $404,880,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Teck Resources by 11.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 7,939,413 shares of the basic materials company’s stock valued at $380,218,000 after acquiring an additional 836,879 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Stock Up 1.9%

NYSE:TECK opened at $64.80 on Friday. The firm has a market capitalization of $31.24 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 3.85 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. 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 business’s fifty day moving average price is $60.94 and its 200 day moving average price is $54.35.

Teck Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.125 per share. 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%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Teck Resources in a report on Friday, May 15th. Benchmark boosted their price objective on Teck Resources from $48.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Truist Financial set a $67.00 price target on Teck Resources in a research report on Monday, February 23rd. Veritas lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Finally, Zacks Research lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Five investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $59.17.

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.