Fourth Sail Capital LP Acquires New Shares in Teck Resources Ltd $TECK

Fourth Sail Capital LP acquired a new stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 148,500 shares of the basic materials company’s stock, valued at approximately $7,112,000. Teck Resources comprises 1.1% of Fourth Sail Capital LP’s investment portfolio, making the stock its 24th largest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. Brown Brothers Harriman & Co. acquired a new stake in shares of Teck Resources in the 4th quarter valued at $25,000. Smartleaf Asset Management LLC lifted its stake in shares of Teck Resources by 72.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 351 shares during the last quarter. Tobam lifted its stake in shares of Teck Resources by 30.9% in the 3rd quarter. Tobam now owns 2,011 shares of the basic materials company’s stock valued at $88,000 after purchasing an additional 475 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Teck Resources in the 4th quarter valued at $103,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Teck Resources by 82.8% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,217 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 1,004 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analysts Set New Price Targets

TECK has been the subject of several analyst reports. Truist Financial set a $67.00 price objective on shares of Teck Resources in a research note on Monday, February 23rd. Benchmark boosted their target price on shares of Teck Resources from $48.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Weiss Ratings raised shares of Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, April 24th. TD Securities reissued a “hold” rating on shares of Teck Resources in a research report on Friday, April 24th. Finally, Veritas lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Five analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat.com, Teck Resources currently has a consensus rating of “Hold” and a consensus price target of $59.17.

Teck Resources Stock Up 1.9%

Shares of TECK opened at $64.80 on Friday. The company has a 50-day simple moving average of $60.94 and a 200-day simple moving average of $54.35. The firm has a market capitalization of $31.24 billion, a P/E ratio of 23.74, a P/E/G ratio of 3.93 and a beta of 0.89. 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.

Teck Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given 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 dividend payout ratio is currently 13.55%.

Teck Resources Company 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.