Hancock Prospecting Pty Ltd Has $493.19 Million Stock Position in Teck Resources Ltd $TECK

Hancock Prospecting Pty Ltd boosted its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 31.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,298,293 shares of the basic materials company’s stock after purchasing an additional 2,477,344 shares during the quarter. Teck Resources makes up approximately 15.2% of Hancock Prospecting Pty Ltd’s holdings, making the stock its 3rd biggest position. Hancock Prospecting Pty Ltd’s holdings in Teck Resources were worth $493,185,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Regal Partners Ltd raised its holdings in shares of Teck Resources by 14.8% during the 3rd quarter. Regal Partners Ltd now owns 3,481,836 shares of the basic materials company’s stock worth $152,818,000 after acquiring an additional 448,081 shares in the last quarter. Union Bancaire Privee UBP SA raised its holdings in shares of Teck Resources by 172.8% during the 4th quarter. Union Bancaire Privee UBP SA now owns 23,560 shares of the basic materials company’s stock worth $1,128,000 after acquiring an additional 14,924 shares in the last quarter. 44 Wealth Management LLC raised its holdings in shares of Teck Resources by 250.8% during the 3rd quarter. 44 Wealth Management LLC now owns 31,077 shares of the basic materials company’s stock worth $1,364,000 after acquiring an additional 22,219 shares in the last quarter. Temasek Holdings Private Ltd raised its holdings in shares of Teck Resources by 1.1% during the 4th quarter. Temasek Holdings Private Ltd now owns 5,307,384 shares of the basic materials company’s stock worth $254,171,000 after acquiring an additional 57,380 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Teck Resources by 2.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,916,856 shares of the basic materials company’s stock worth $84,068,000 after acquiring an additional 37,419 shares in the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on TECK shares. TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Teck Resources in a report on Friday, May 15th. Zacks Research cut Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Truist Financial set a $67.00 price objective on Teck Resources in a report on Monday, February 23rd. Finally, Weiss Ratings raised Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Five equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $59.17.

Teck Resources Stock Performance

NYSE:TECK opened at $66.99 on Wednesday. The stock’s fifty day moving average is $61.49 and its 200 day moving average is $54.78. Teck Resources Ltd has a fifty-two week low of $30.98 and a fifty-two week high of $71.25. The firm has a market capitalization of $32.30 billion, a PE ratio of 24.54, a PEG ratio of 4.01 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, June 15th. Teck Resources’s dividend payout ratio is presently 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.