Teck Resources Ltd $TECK Stock Bought by Vontobel Holding Ltd.

Vontobel Holding Ltd. grew its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 8.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,052 shares of the basic materials company’s stock after acquiring an additional 8,503 shares during the period. Vontobel Holding Ltd.’s holdings in Teck Resources were worth $7,312,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of TECK. Squarepoint Ops LLC acquired a new position in Teck Resources during the 2nd quarter worth $7,952,000. Public Employees Retirement System of Ohio acquired a new stake in Teck Resources in the 2nd quarter valued at about $21,425,000. Nykredit A S acquired a new stake in Teck Resources in the 2nd quarter valued at about $4,338,000. NewEdge Advisors LLC raised its position in Teck Resources by 92.0% in the 1st quarter. NewEdge Advisors LLC now owns 37,143 shares of the basic materials company’s stock valued at $1,922,000 after purchasing an additional 17,793 shares in the last quarter. Finally, HBK Investments L P boosted its stake in shares of Teck Resources by 264.2% in the 2nd quarter. HBK Investments L P now owns 5,773,121 shares of the basic materials company’s stock valued at $343,270,000 after buying an additional 4,188,029 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Down 1.7%

Teck Resources stock opened at $64.59 on Friday. Teck Resources Ltd has a 1-year low of $38.00 and a 1-year high of $72.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.12 and a quick ratio of 2.33. The stock has a market cap of $31.21 billion, a PE ratio of 17.51, a P/E/G ratio of 2.08 and a beta of 1.01. The stock’s fifty day moving average is $66.93 and its two-hundred day moving average is $62.68.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.40. The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Teck Resources had a return on equity of 10.42% and a net margin of 17.85%. The business’s quarterly revenue was up 78.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 EPS. On average, sell-side analysts expect that Teck Resources Ltd will post 4.28 EPS for the current fiscal year.

Teck Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were paid a dividend of C$0.12 per share. The ex-dividend date was Tuesday, September 15th. This represents a $0.50 annualized dividend and a yield of 0.8%. Teck Resources’s payout ratio is presently 9.76%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Raymond James Financial raised Teck Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 23rd. Wall Street Zen downgraded shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Teck Resources from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Weiss Ratings upgraded shares of Teck Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Teck Resources from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $62.25.

About Teck Resources

Teck Resources Limited is a Canadian mining and metals company headquartered in Vancouver, British Columbia. The company focuses primarily on the exploration, development and production of copper and zinc, which are used in construction, infrastructure, manufacturing and the global energy transition.

Teck’s copper operations include the Highland Valley Copper mine in British Columbia, the Carmen de Andacollo mine in Chile and the Quebrada Blanca operation in northern Chile. Its zinc business includes the Red Dog mine in Alaska, one of the world’s significant zinc-producing operations.