Natixis Advisors LLC Has $32.89 Million Stock Position in Teck Resources Ltd $TECK

Natixis Advisors LLC raised its stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 6.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 686,867 shares of the basic materials company’s stock after buying an additional 38,764 shares during the period. Natixis Advisors LLC owned 0.14% of Teck Resources worth $32,894,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Teck Resources by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 20,185,694 shares of the basic materials company’s stock valued at $966,370,000 after buying an additional 278,481 shares in the last quarter. Principal Financial Group Inc. boosted its position in Teck Resources by 11.6% in the fourth quarter. Principal Financial Group Inc. now owns 18,832,299 shares of the basic materials company’s stock valued at $902,769,000 after buying an additional 1,953,070 shares in the last quarter. Davis Selected Advisers boosted its position in Teck Resources by 9.0% in the fourth quarter. Davis Selected Advisers now owns 12,019,609 shares of the basic materials company’s stock valued at $575,620,000 after buying an additional 995,947 shares in the last quarter. Norges Bank acquired a new stake in Teck Resources in the fourth quarter valued at approximately $404,880,000. Finally, Hancock Prospecting Pty Ltd boosted its position in Teck Resources by 1.6% in the third quarter. Hancock Prospecting Pty Ltd now owns 7,820,949 shares of the basic materials company’s stock valued at $343,261,000 after buying an additional 125,000 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TECK. Truist Financial set a $67.00 target price on shares of Teck Resources in a research report on Monday, February 23rd. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a research note on Tuesday, April 14th. Weiss Ratings raised shares of Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. Finally, Zacks Research downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $59.17.

Teck Resources Price Performance

TECK stock opened at $67.26 on Friday. The company has a fifty day moving average price of $59.48 and a 200-day moving average price of $53.49. The company has a market capitalization of $32.43 billion, a P/E ratio of 24.64, a PEG ratio of 4.93 and a beta of 0.89. Teck Resources Ltd has a 52-week low of $30.98 and a 52-week high of $71.25. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, June 15th. Teck Resources’s dividend payout ratio (DPR) is currently 13.55%.

About Teck Resources

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.