Twin Tree Management LP Sells 44,222 Shares of Teck Resources Ltd $TECK

Twin Tree Management LP cut its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 50.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,006 shares of the basic materials company’s stock after selling 44,222 shares during the quarter. Twin Tree Management LP’s holdings in Teck Resources were worth $2,107,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TECK. Smartleaf Asset Management LLC increased its stake 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 valued at $37,000 after buying an additional 351 shares during the period. Tobam increased its stake in shares of Teck Resources by 30.9% in the third quarter. Tobam now owns 2,011 shares of the basic materials company’s stock valued at $88,000 after buying an additional 475 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Teck Resources by 82.8% in the third quarter. EverSource Wealth Advisors LLC now owns 2,217 shares of the basic materials company’s stock valued at $97,000 after buying an additional 1,004 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of Teck Resources in the fourth quarter valued at about $103,000. Finally, Banque Cantonale Vaudoise increased its stake in shares of Teck Resources by 5,102.0% in the third quarter. Banque Cantonale Vaudoise now owns 2,549 shares of the basic materials company’s stock valued at $112,000 after buying an additional 2,500 shares during the period. 78.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TECK. Truist Financial set a $67.00 price target on Teck Resources in a research note on Monday, February 23rd. TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. Veritas cut Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. JPMorgan Chase & Co. raised their target price on Teck Resources from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Finally, Wall Street Zen raised Teck Resources to a “buy” rating in a research note on Saturday, May 16th. Five equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat, Teck Resources currently has an average rating of “Hold” and an average price target of $59.17.

Teck Resources Stock Up 0.7%

TECK stock opened at $62.11 on Tuesday. Teck Resources Ltd has a twelve month low of $30.98 and a twelve month high of $71.25. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average is $59.97 and its 200-day moving average is $53.80. The firm has a market capitalization of $29.95 billion, a PE ratio of 22.75, a P/E/G ratio of 4.52 and a beta of 0.89.

Teck Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, June 15th. Teck Resources’s dividend payout ratio (DPR) is 13.55%.

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.