Teck Resources Ltd $TECK Shares Purchased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 1,465.8% in the 3rd quarter, Holdings Channel reports. The fund owned 59,500 shares of the basic materials company’s stock after acquiring an additional 55,700 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Teck Resources were worth $2,611,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tobam lifted 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 worth $88,000 after acquiring an additional 475 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Teck Resources by 28.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 15,904 shares of the basic materials company’s stock valued at $698,000 after purchasing an additional 3,555 shares in the last quarter. ABN Amro Investment Solutions increased its holdings in Teck Resources by 17.5% during the 3rd quarter. ABN Amro Investment Solutions now owns 199,295 shares of the basic materials company’s stock worth $8,747,000 after purchasing an additional 29,649 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Teck Resources by 43.5% in the 3rd quarter. HighTower Advisors LLC now owns 88,519 shares of the basic materials company’s stock valued at $3,885,000 after purchasing an additional 26,821 shares in the last quarter. Finally, Metis Global Partners LLC raised its position in shares of Teck Resources by 9.6% in the 3rd quarter. Metis Global Partners LLC now owns 55,722 shares of the basic materials company’s stock valued at $2,444,000 after purchasing an additional 4,883 shares in the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TECK shares. JPMorgan Chase & Co. raised their price target on shares of Teck Resources from $43.00 to $51.00 and gave the stock a “neutral” rating in a research report on Friday, December 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $46.00 price objective on shares of Teck Resources in a research note on Wednesday, November 26th. Raymond James Financial downgraded shares of Teck Resources from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 14th. Citigroup upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating in a research note on Monday, February 2nd. Finally, Veritas raised shares of Teck Resources from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, Teck Resources has a consensus rating of “Hold” and a consensus target price of $53.33.

Teck Resources Stock Performance

Teck Resources stock opened at $59.45 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.78 and a quick ratio of 2.08. Teck Resources Ltd has a 12 month low of $28.32 and a 12 month high of $60.75. The company has a fifty day moving average price of $52.05 and a two-hundred day moving average price of $44.03. The company has a market cap of $28.62 billion, a PE ratio of 29.43, a P/E/G ratio of 0.55 and a beta of 0.80.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, February 19th. The basic materials company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.39. Teck Resources had a net margin of 12.98% and a return on equity of 5.90%. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same period last year, the firm posted $0.45 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. Research analysts expect that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Teck Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, March 13th. Teck Resources’s payout ratio is presently 20.22%.

Trending Headlines about Teck Resources

Here are the key news stories impacting Teck Resources this week:

• Positive Sentiment: Q4 earnings beat — Teck reported EPS of $0.98, beating consensus (~$0.59) and up sharply year-over-year, supporting upgraded profitability metrics and investor confidence. Read More.
• Positive Sentiment: Merger progress with Anglo American — Management described the proposed Anglo American transaction as transformational and reported continued progress on the deal, which markets view as a strategic positive for scale in critical minerals. Read More.
• Positive Sentiment: Copper tailwind and strong cash momentum — Higher copper prices materially boosted Q4 earnings and management flagged strong Q4 momentum and cash generation in its press release/slide deck. Read More.
• Neutral Sentiment: Dividend declared — Teck announced a quarterly dividend of $0.125/share (ex-dividend March 13), a modest yield that signals capital return but is unlikely to be a major catalyst.
• Neutral Sentiment: Output guidance reaffirmed — Management reaffirmed production guidance including for Quebrada Blanca, reducing near-term operational uncertainty. Read More.
• Negative Sentiment: Revenue slightly below consensus — Q4 revenue was $2.23B vs. consensus ~$2.28B, a small topline miss that tempers the beat and could limit upside if commodity prices soften. Read More.

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.