J. Safra Sarasin Holding AG Sells 13,791 Shares of Teck Resources Ltd $TECK

J. Safra Sarasin Holding AG decreased its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 24.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,516 shares of the basic materials company’s stock after selling 13,791 shares during the period. J. Safra Sarasin Holding AG’s holdings in Teck Resources were worth $2,197,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Candriam S.C.A. increased its holdings in Teck Resources by 15.3% during the 1st quarter. Candriam S.C.A. now owns 15,242 shares of the basic materials company’s stock valued at $787,000 after purchasing an additional 2,027 shares in the last quarter. Credit Industriel ET Commercial acquired a new position in Teck Resources in the first quarter worth $5,444,000. Y Intercept Hong Kong Ltd boosted its stake in Teck Resources by 244.9% in the first quarter. Y Intercept Hong Kong Ltd now owns 86,358 shares of the basic materials company’s stock worth $4,469,000 after purchasing an additional 61,322 shares in the last quarter. Elevation Point Wealth Partners LLC grew its holdings in shares of Teck Resources by 8.9% during the first quarter. Elevation Point Wealth Partners LLC now owns 5,720 shares of the basic materials company’s stock worth $296,000 after purchasing an additional 466 shares during the last quarter. Finally, Louisbourg Investments Inc. grew its holdings in shares of Teck Resources by 10.3% during the first quarter. Louisbourg Investments Inc. now owns 175,850 shares of the basic materials company’s stock worth $9,096,000 after purchasing an additional 16,388 shares during the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Stock Down 2.2%

Shares of Teck Resources stock opened at $58.49 on Tuesday. Teck Resources Ltd has a 1 year low of $30.98 and a 1 year high of $71.25. The business has a 50-day moving average of $62.51 and a two-hundred day moving average of $56.92. The company has a market capitalization of $28.24 billion, a P/E ratio of 21.42, a price-to-earnings-growth ratio of 1.78 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16.

Teck Resources Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms recently issued reports on TECK. Deutsche Bank Aktiengesellschaft lifted their price target on Teck Resources from $64.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a research report on Monday, June 15th. Wall Street Zen raised shares of Teck Resources to a “buy” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. decreased their price objective on shares of Teck Resources from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. Finally, TD Securities reiterated a “hold” rating on shares of Teck Resources in a report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $59.83.

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.