Teck Resources Ltd $TECK Shares Sold by Foundation Resource Management Inc.

Foundation Resource Management Inc. cut its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 5.4% during the 3rd quarter, Holdings Channel reports. The firm owned 842,239 shares of the basic materials company’s stock after selling 47,694 shares during the period. Teck Resources comprises 4.6% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 5th largest position. Foundation Resource Management Inc.’s holdings in Teck Resources were worth $55,411,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vontobel Holding Ltd. raised its stake in shares of Teck Resources by 8.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 111,052 shares of the basic materials company’s stock worth $7,312,000 after buying an additional 8,503 shares in the last quarter. Triasima Portfolio Management inc. boosted its stake in Teck Resources by 43.4% during the third quarter. Triasima Portfolio Management inc. now owns 39,350 shares of the basic materials company’s stock valued at $2,597,000 after buying an additional 11,900 shares in the last quarter. Ninety One UK Ltd boosted its stake in Teck Resources by 119.2% during the third quarter. Ninety One UK Ltd now owns 374,409 shares of the basic materials company’s stock valued at $24,632,000 after buying an additional 203,568 shares in the last quarter. Fortitude Family Office LLC bought a new position in Teck Resources during the third quarter valued at about $46,000. Finally, Pacifica Partners Inc. boosted its stake in Teck Resources by 25.4% during the third quarter. Pacifica Partners Inc. now owns 32,623 shares of the basic materials company’s stock valued at $2,119,000 after buying an additional 6,615 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Analyst Upgrades and Downgrades

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

Teck Resources Price Performance

Shares of NYSE TECK traded down $1.18 during trading on Monday, hitting $63.44. The company had a trading volume of 3,510,619 shares, compared to its average volume of 3,531,423. Teck Resources Ltd has a 52 week low of $38.00 and a 52 week high of $72.56. The business’s 50-day moving average is $66.93 and its 200 day moving average is $62.78. The company has a market cap of $30.65 billion, a P/E ratio of 17.19, a PEG ratio of 2.08 and a beta of 1.01. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.33 and a current ratio of 3.12.

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

Teck Resources Dividend Announcement

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

Teck Resources Profile

Teck Resources Limited is a Canadian mining and mineral development company focused primarily on copper and zinc, commodities used in electrification, infrastructure, manufacturing and other industrial applications. The company explores for, develops and operates mines, mineral processing facilities and related infrastructure.

Teck’s copper assets include Highland Valley Copper in British Columbia, Canada; Carmen de Andacollo in Chile; and Quebrada Blanca in northern Chile. Its zinc operations include the Red Dog mine in Alaska and the Trail Operations metallurgical complex in British Columbia, which produces refined metals, alloys and other related products.