Temasek Holdings Private Ltd Boosts Stake in Teck Resources Ltd $TECK

Temasek Holdings Private Ltd boosted its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 47.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,250,004 shares of the basic materials company’s stock after acquiring an additional 1,682,625 shares during the quarter. Teck Resources accounts for about 0.8% of Temasek Holdings Private Ltd’s investment portfolio, making the stock its 26th largest position. Temasek Holdings Private Ltd’s holdings in Teck Resources were worth $230,423,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TECK. Versant Capital Management Inc bought a new stake in shares of Teck Resources during the 3rd quarter valued at about $26,000. Smartleaf Asset Management LLC grew its holdings in shares of Teck Resources by 72.4% during the third quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 351 shares in the last quarter. SouthState Bank Corp bought a new position in shares of Teck Resources in the third quarter worth approximately $50,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Teck Resources by 43.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,741 shares of the basic materials company’s stock worth $76,000 after purchasing an additional 524 shares during the last quarter. Finally, Tobam raised its stake in 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 purchasing an additional 475 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Down 4.6%

Shares of TECK opened at $49.51 on Friday. Teck Resources Ltd has a 1 year low of $28.32 and a 1 year high of $62.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.54 and a quick ratio of 1.91. The stock has a 50 day simple moving average of $54.81 and a two-hundred day simple moving average of $46.42. The firm has a market cap of $23.83 billion, a P/E ratio of 24.51, a P/E/G ratio of 3.16 and a beta of 0.77.

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

Teck Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.50 annualized dividend and a dividend yield of 1.0%. Teck Resources’s dividend payout ratio (DPR) is currently 17.82%.

Wall Street Analysts Forecast Growth

TECK has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $46.00 target price on shares of Teck Resources in a research report on Wednesday, November 26th. TD Securities restated a “hold” rating on shares of Teck Resources in a research report on Monday, February 23rd. Citigroup raised shares of Teck Resources from a “neutral” rating to a “buy” rating in a report on Monday, February 2nd. Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a research report on Tuesday, February 24th. Finally, JPMorgan Chase & Co. increased their target price on Teck Resources from $43.00 to $51.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $57.00.

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.