Temasek Holdings Private Ltd Has $294.01 Million Holdings in Teck Resources Ltd $TECK

Temasek Holdings Private Ltd boosted its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 7.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 5,685,453 shares of the basic materials company’s stock after purchasing an additional 378,069 shares during the quarter. Teck Resources accounts for 1.0% of Temasek Holdings Private Ltd’s investment portfolio, making the stock its 22nd biggest holding. Temasek Holdings Private Ltd’s holdings in Teck Resources were worth $294,015,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TECK. Brown Brothers Harriman & Co. bought a new stake in Teck Resources during the 4th quarter worth approximately $25,000. Blue Trust Inc. raised its stake in shares of Teck Resources by 411.8% in the first quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 453 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Teck Resources by 117.4% in the first quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 303 shares in the last quarter. Oslo Pensjonsforsikring AS bought a new position in shares of Teck Resources in the first quarter valued at approximately $83,000. Finally, Flagship Harbor Advisors LLC bought a new position in shares of Teck Resources in the fourth quarter valued at approximately $103,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Performance

TECK stock opened at $56.80 on Wednesday. The firm has a market cap of $27.42 billion, a PE ratio of 20.80, a P/E/G ratio of 1.61 and a beta of 0.92. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $61.78 and a 200-day moving average of $57.32. Teck Resources Ltd has a 12-month low of $30.98 and a 12-month high of $71.25.

Teck Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $0.125 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.50 annualized dividend and a yield of 0.9%. Teck Resources’s payout ratio is currently 13.19%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price target on Teck Resources from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Wall Street Zen upgraded Teck Resources from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Zacks Research downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Veritas downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a research note on Monday, June 15th. Five analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Teck Resources presently has an average rating of “Hold” and a consensus target price of $63.00.

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.