K.J. Harrison & Partners Inc Sells 40,000 Shares of Teck Resources Ltd $TECK

K.J. Harrison & Partners Inc trimmed its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 47.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,520 shares of the basic materials company’s stock after selling 40,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in Teck Resources were worth $2,303,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Temasek Holdings Private Ltd increased its stake in shares of Teck Resources by 1.1% in the fourth quarter. Temasek Holdings Private Ltd now owns 5,307,384 shares of the basic materials company’s stock worth $254,171,000 after buying an additional 57,380 shares during the period. Regal Partners Ltd grew its holdings in Teck Resources by 14.8% in the 3rd quarter. Regal Partners Ltd now owns 3,481,836 shares of the basic materials company’s stock worth $152,818,000 after acquiring an additional 448,081 shares during the last quarter. Union Bancaire Privee UBP SA increased its position in shares of Teck Resources by 172.8% in the fourth quarter. Union Bancaire Privee UBP SA now owns 23,560 shares of the basic materials company’s stock valued at $1,128,000 after acquiring an additional 14,924 shares during the period. 44 Wealth Management LLC increased its position in shares of Teck Resources by 250.8% in the third quarter. 44 Wealth Management LLC now owns 31,077 shares of the basic materials company’s stock valued at $1,364,000 after acquiring an additional 22,219 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Teck Resources by 2.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,916,856 shares of the basic materials company’s stock valued at $84,068,000 after acquiring an additional 37,419 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Trading Down 0.1%

Shares of TECK opened at $59.96 on Friday. 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 firm’s 50-day moving average price is $62.51 and its 200-day moving average price is $56.23. The firm has a market capitalization of $28.94 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 3.56 and a beta of 0.92.

Teck Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, June 15th. Teck Resources’s dividend payout ratio (DPR) is presently 13.19%.

Analysts Set New Price Targets

TECK has been the subject of a number of analyst reports. Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a report on Monday, June 15th. Deutsche Bank Aktiengesellschaft upped their price target on Teck Resources from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday. Wall Street Zen upgraded Teck Resources to a “buy” rating in a report on Saturday, May 16th. TD Securities reiterated a “hold” rating on shares of Teck Resources in a research report on Friday, April 24th. Finally, Weiss Ratings raised Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Five equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat.com, Teck Resources currently has an average rating of “Hold” and an average target price of $60.17.

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.