Teck Resources Ltd $TECK Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lessened its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 6.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,904,683 shares of the basic materials company’s stock after selling 284,746 shares during the quarter. Clearbridge Investments LLC’s holdings in Teck Resources were worth $186,995,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Welch Group LLC lifted its position in shares of Teck Resources by 3.5% during the fourth quarter. Welch Group LLC now owns 5,899 shares of the basic materials company’s stock worth $283,000 after purchasing an additional 199 shares in the last quarter. Smartleaf Asset Management LLC lifted its position 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 in the last quarter. GSA Capital Partners LLP raised its holdings in Teck Resources by 1.0% in the third quarter. GSA Capital Partners LLP now owns 40,941 shares of the basic materials company’s stock valued at $1,797,000 after acquiring an additional 409 shares in the last quarter. 44 Wealth Management LLC raised its holdings in Teck Resources by 1.3% in the fourth quarter. 44 Wealth Management LLC now owns 31,488 shares of the basic materials company’s stock valued at $1,508,000 after acquiring an additional 411 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Teck Resources by 5.5% in the third quarter. NewEdge Advisors LLC now owns 8,635 shares of the basic materials company’s stock valued at $379,000 after acquiring an additional 452 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

TECK has been the topic of several analyst reports. Benchmark raised their target price on shares of Teck Resources from $48.00 to $67.00 and gave the company a “buy” rating in a report on Monday, February 23rd. Truist Financial set a $67.00 target price on shares of Teck Resources in a report on Monday, February 23rd. JPMorgan Chase & Co. raised their target price on shares of Teck Resources from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Wall Street Zen raised shares of Teck Resources to a “buy” rating in a report on Saturday, May 16th. Finally, TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a report on Friday, April 24th. Five equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $59.17.

Teck Resources Stock Down 0.1%

Shares of NYSE:TECK opened at $61.60 on Monday. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13. Teck Resources Ltd has a fifty-two week low of $30.98 and a fifty-two week high of $71.25. The firm’s 50 day moving average price is $59.70 and its 200 day moving average price is $53.64. The stock has a market cap of $29.70 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 4.52 and a beta of 0.89.

Teck Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given 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 of this dividend is Monday, June 15th. Teck Resources’s dividend payout ratio (DPR) is 13.55%.

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.