Westerkirk Capital Inc. Sells 17,300 Shares of Teck Resources Ltd $TECK

Westerkirk Capital Inc. decreased its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 93.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,280 shares of the basic materials company’s stock after selling 17,300 shares during the quarter. Westerkirk Capital Inc.’s holdings in Teck Resources were worth $61,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its stake in shares of Teck Resources by 72.4% in the third quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 351 shares during the last quarter. Tobam grew its stake in shares of Teck Resources by 30.9% in the third quarter. Tobam now owns 2,011 shares of the basic materials company’s stock worth $88,000 after purchasing an additional 475 shares during the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Teck Resources in the fourth quarter worth $103,000. EverSource Wealth Advisors LLC grew its stake in shares of Teck Resources by 82.8% in the third quarter. EverSource Wealth Advisors LLC now owns 2,217 shares of the basic materials company’s stock worth $97,000 after purchasing an additional 1,004 shares during the last quarter. Finally, Banque Cantonale Vaudoise grew its stake in shares of Teck Resources by 5,102.0% in the third quarter. Banque Cantonale Vaudoise now owns 2,549 shares of the basic materials company’s stock worth $112,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Analyst Ratings Changes

TECK has been the topic of several analyst reports. Veritas cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. Truist Financial set a $67.00 price objective on shares of Teck Resources in a research note on Monday, February 23rd. Wall Street Zen upgraded shares of Teck Resources to a “buy” rating in a report on Saturday, May 16th. JPMorgan Chase & Co. boosted their target price on shares of Teck Resources from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Finally, TD Securities restated a “hold” rating on shares of Teck Resources in a report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $59.17.

Teck Resources Price Performance

TECK stock opened at $61.91 on Wednesday. The firm has a market cap of $29.85 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 4.55 and a beta of 0.89. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13. Teck Resources Ltd has a 12-month low of $30.98 and a 12-month high of $71.25. The company’s fifty day simple moving average is $60.24 and its 200 day simple moving average is $53.95.

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 issued a $0.125 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.50 annualized dividend and a yield of 0.8%. Teck Resources’s payout ratio is presently 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.