Teck Resources Ltd $TECK Shares Sold by Beaconlight Capital LLC

Beaconlight Capital LLC cut its stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 18.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 191,235 shares of the basic materials company’s stock after selling 42,444 shares during the quarter. Teck Resources comprises approximately 5.3% of Beaconlight Capital LLC’s investment portfolio, making the stock its 5th biggest position. Beaconlight Capital LLC’s holdings in Teck Resources were worth $9,158,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TECK. AQR Capital Management LLC raised its holdings in Teck Resources by 11.1% in the 1st quarter. AQR Capital Management LLC now owns 34,705 shares of the basic materials company’s stock valued at $1,264,000 after acquiring an additional 3,458 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Teck Resources by 453.0% in the 1st quarter. Jones Financial Companies Lllp now owns 9,721 shares of the basic materials company’s stock valued at $354,000 after acquiring an additional 7,963 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Teck Resources by 1.8% in the 1st 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 acquiring an additional 8,146 shares in the last quarter. Marshall Wace LLP raised its holdings in Teck Resources by 189.3% in the 2nd quarter. Marshall Wace LLP now owns 218,242 shares of the basic materials company’s stock valued at $8,813,000 after acquiring an additional 142,816 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Teck Resources by 4,602.9% in the 2nd quarter. NewEdge Advisors LLC now owns 8,183 shares of the basic materials company’s stock valued at $330,000 after acquiring an additional 8,009 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TECK has been the subject of several analyst reports. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a report on Monday. Veritas cut Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. boosted their price target on Teck Resources from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. TD Securities reissued a “hold” rating on shares of Teck Resources in a report on Friday, April 24th. Finally, Zacks Research cut Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Five research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $59.17.

Teck Resources Price Performance

Teck Resources stock opened at $65.72 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.16 and a current ratio of 2.83. Teck Resources Ltd has a 52 week low of $30.98 and a 52 week high of $71.25. The stock has a market capitalization of $31.69 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 4.06 and a beta of 0.89. The stock has a fifty day moving average of $61.75 and a 200-day moving average of $54.94.

Teck Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.8%. Teck Resources’s payout ratio is 13.19%.

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.