Regal Partners Ltd Has $130.04 Million Position in Teck Resources Ltd $TECK

Regal Partners Ltd lowered its stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 28.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,512,870 shares of the basic materials company’s stock after selling 1,008,494 shares during the period. Teck Resources makes up 7.1% of Regal Partners Ltd’s portfolio, making the stock its 4th largest holding. Regal Partners Ltd’s holdings in Teck Resources were worth $130,041,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. AQR Capital Management LLC lifted its position in Teck Resources by 11.1% during the first quarter. AQR Capital Management LLC now owns 34,705 shares of the basic materials company’s stock worth $1,264,000 after acquiring an additional 3,458 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Teck Resources by 453.0% in the first quarter. Jones Financial Companies Lllp now owns 9,721 shares of the basic materials company’s stock valued at $354,000 after purchasing an additional 7,963 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Teck Resources by 1.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 465,861 shares of the basic materials company’s stock valued at $16,971,000 after purchasing an additional 8,146 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Teck Resources by 189.3% during the second quarter. Marshall Wace LLP now owns 218,242 shares of the basic materials company’s stock worth $8,813,000 after purchasing an additional 142,816 shares during the period. Finally, NewEdge Advisors LLC increased its stake in shares of Teck Resources by 4,602.9% during the second quarter. NewEdge Advisors LLC now owns 8,183 shares of the basic materials company’s stock worth $330,000 after purchasing an additional 8,009 shares during the period. 78.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TECK shares. Scotiabank reissued a “sector perform” rating on shares of Teck Resources in a report on Monday, June 15th. Raymond James Financial raised Teck Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, July 23rd. Zacks Research cut Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. lifted their target price on Teck Resources from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Wall Street Zen cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Teck Resources presently has an average rating of “Hold” and a consensus price target of $62.25.

Teck Resources Stock Performance

NYSE:TECK opened at $58.70 on Wednesday. The company has a market cap of $28.35 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 1.77 and a beta of 0.92. Teck Resources Ltd has a fifty-two week low of $30.98 and a fifty-two week high of $71.25. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.16 and a current ratio of 3.12. The stock has a fifty day moving average price of $61.43 and a 200-day moving average price of $57.66.

Teck Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Teck Resources’s payout ratio is 9.76%.

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.