Teck Resources Ltd $TECK Shares Sold by Gemsstock Ltd.

Gemsstock Ltd. decreased its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 274,270 shares of the basic materials company’s stock after selling 10,600 shares during the period. Teck Resources comprises 1.9% of Gemsstock Ltd.’s investment portfolio, making the stock its 20th biggest position. Gemsstock Ltd.’s holdings in Teck Resources were worth $13,135,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TECK. Brown Brothers Harriman & Co. acquired a new position in Teck Resources during the 4th quarter worth about $25,000. Smartleaf Asset Management LLC lifted its stake in Teck Resources by 72.4% during the 3rd 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. Tobam lifted its stake in Teck Resources by 30.9% during the 3rd quarter. Tobam now owns 2,011 shares of the basic materials company’s stock worth $88,000 after acquiring an additional 475 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Teck Resources by 82.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,217 shares of the basic materials company’s stock worth $97,000 after acquiring an additional 1,004 shares in the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in Teck Resources during the 4th quarter worth about $103,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Price Performance

TECK stock opened at $64.80 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16. The firm has a market capitalization of $31.24 billion, a P/E ratio of 23.74, a P/E/G ratio of 3.85 and a beta of 0.89. The business’s 50-day moving average is $60.94 and its two-hundred day moving average is $54.35. Teck Resources Ltd has a 1 year low of $30.98 and a 1 year high of $71.25.

Teck Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend 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%.

Analyst Ratings Changes

A number of research firms have issued reports on TECK. Weiss Ratings raised Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, April 24th. JPMorgan Chase & Co. increased their price target on Teck Resources from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Truist Financial set a $67.00 price target on Teck Resources in a research report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Teck Resources in a research report on Friday, May 15th. Finally, Zacks Research lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Five investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $59.17.

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.