Mackenzie Financial Corp Has $338.66 Million Stock Holdings in Teck Resources Ltd $TECK

Mackenzie Financial Corp trimmed its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 3.4% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 7,721,854 shares of the basic materials company’s stock after selling 267,861 shares during the period. Mackenzie Financial Corp’s holdings in Teck Resources were worth $338,663,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in TECK. Versant Capital Management Inc acquired a new position in shares of Teck Resources during the third quarter valued at $26,000. Smartleaf Asset Management LLC grew its stake in shares of Teck Resources by 72.4% during the third quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 351 shares during the period. SouthState Bank Corp bought a new stake in shares of Teck Resources in the 3rd quarter valued at about $50,000. Tobam bought a new stake in Teck Resources in the second quarter valued at approximately $62,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of 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. Institutional investors own 78.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Citigroup upgraded Teck Resources from a “neutral” rating to a “buy” rating in a report on Monday, February 2nd. Raymond James Financial downgraded shares of Teck Resources from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 14th. Veritas upgraded Teck Resources from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 15th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $46.00 price target on shares of Teck Resources in a report on Wednesday, November 26th. Finally, Truist Financial set a $67.00 target price on shares of Teck Resources in a research report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $57.00.

Teck Resources Price Performance

Teck Resources stock opened at $52.44 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.54 and a quick ratio of 1.91. The firm 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. Teck Resources Ltd has a one year low of $28.32 and a one year high of $62.41. The business has a fifty day moving average price of $54.60 and a 200-day moving average price of $46.22.

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

Teck Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, March 13th. Teck Resources’s dividend payout ratio is 17.82%.

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.