Lansdowne Partners UK LLP Takes Position in Teck Resources Ltd $TECK

Lansdowne Partners UK LLP purchased a new stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 722,054 shares of the basic materials company’s stock, valued at approximately $31,691,000. Teck Resources accounts for approximately 2.1% of Lansdowne Partners UK LLP’s investment portfolio, making the stock its 12th biggest position. Lansdowne Partners UK LLP owned 0.15% of Teck Resources as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc purchased a new stake in Teck Resources during the third quarter valued at about $26,000. Smartleaf Asset Management LLC increased its position in shares of Teck Resources by 72.4% in the third quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 351 shares in the last quarter. SouthState Bank Corp acquired a new stake in shares of Teck Resources during the third quarter valued at approximately $50,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Teck Resources by 43.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,741 shares of the basic materials company’s stock valued at $76,000 after acquiring an additional 524 shares during the period. Finally, Tobam lifted its position in shares of Teck Resources by 30.9% in the 3rd quarter. Tobam now owns 2,011 shares of the basic materials company’s stock valued at $88,000 after acquiring an additional 475 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Wall Street Analyst Weigh In

TECK has been the subject of a number of recent analyst reports. Raymond James Financial lowered shares of Teck Resources from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 14th. Veritas raised shares of Teck Resources from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 15th. UBS Group restated a “buy” rating on shares of Teck Resources in a report on Tuesday, January 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Teck Resources in a research report on Wednesday, January 21st. Finally, Benchmark lifted their price target on Teck Resources from $48.00 to $67.00 and gave the company a “buy” rating in a report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $57.00.

Teck Resources Stock Performance

TECK stock opened at $50.06 on Tuesday. The firm has a 50 day simple moving average of $54.81 and a 200 day simple moving average of $46.72. Teck Resources Ltd has a 52 week low of $28.32 and a 52 week high of $62.41. The stock has a market cap of $24.10 billion, a P/E ratio of 24.78, a P/E/G ratio of 3.02 and a beta of 0.77. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.54.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.39. Teck Resources had a net margin of 12.98% and a return on equity of 5.90%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the prior year, the business earned $0.45 EPS. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. Research analysts anticipate that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Teck Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.0%. Teck Resources’s dividend payout ratio is 18.32%.

Teck Resources 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.