Myriad Asset Management Advisors LLC Invests $3.08 Million in Teck Resources Ltd $TECK

Myriad Asset Management Advisors LLC acquired a new position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 64,347 shares of the basic materials company’s stock, valued at approximately $3,082,000. Teck Resources comprises 0.9% of Myriad Asset Management Advisors LLC’s portfolio, making the stock its 29th biggest position.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Teck Resources by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 20,185,694 shares of the basic materials company’s stock worth $966,370,000 after acquiring an additional 278,481 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Teck Resources by 11.6% in the 4th quarter. Principal Financial Group Inc. now owns 18,832,299 shares of the basic materials company’s stock worth $902,769,000 after acquiring an additional 1,953,070 shares during the last quarter. Davis Selected Advisers lifted its holdings in shares of Teck Resources by 9.0% in the 4th quarter. Davis Selected Advisers now owns 12,019,609 shares of the basic materials company’s stock worth $575,620,000 after acquiring an additional 995,947 shares during the last quarter. Norges Bank bought a new stake in shares of Teck Resources in the 4th quarter worth approximately $404,880,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Teck Resources by 11.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 7,939,413 shares of the basic materials company’s stock worth $380,218,000 after acquiring an additional 836,879 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Trading Down 3.2%

NYSE:TECK opened at $59.89 on Thursday. The company has a fifty day moving average of $60.47 and a 200 day moving average of $54.11. Teck Resources Ltd has a 52 week low of $30.98 and a 52 week 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 firm has a market capitalization of $28.88 billion, a P/E ratio of 21.94, a P/E/G ratio of 4.53 and a beta of 0.89.

Teck Resources Announces Dividend

The company 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 is currently 13.55%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TECK. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a report on Tuesday, April 14th. Truist Financial set a $67.00 target price on shares of Teck Resources in a research note on Monday, February 23rd. Zacks Research lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. TD Securities reiterated a “hold” rating on shares of Teck Resources in a report on Friday, April 24th. Finally, Weiss Ratings upgraded shares of Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $59.17.

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.