Temasek Holdings Private Ltd Grows Position in Teck Resources Ltd $TECK

Temasek Holdings Private Ltd lifted its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,307,384 shares of the basic materials company’s stock after acquiring an additional 57,380 shares during the quarter. Teck Resources makes up 0.8% of Temasek Holdings Private Ltd’s portfolio, making the stock its 23rd biggest position. Temasek Holdings Private Ltd owned 1.10% of Teck Resources worth $254,171,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Teck Resources by 1.4% during 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 acquiring an additional 278,481 shares in the last quarter. Principal Financial Group Inc. raised its holdings 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 worth $902,769,000 after purchasing an additional 1,953,070 shares in the last quarter. Davis Selected Advisers raised its holdings 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 worth $575,620,000 after purchasing an additional 995,947 shares in the last quarter. Norges Bank bought a new position in Teck Resources in the fourth quarter worth $404,880,000. Finally, Goldman Sachs Group Inc. raised its holdings in Teck Resources by 11.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 7,939,413 shares of the basic materials company’s stock worth $380,218,000 after purchasing an additional 836,879 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

Shares of NYSE:TECK opened at $66.07 on Tuesday. Teck Resources Ltd has a 1-year low of $30.98 and a 1-year high of $71.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16. The business has a fifty day moving average price of $61.21 and a 200-day moving average price of $54.61. The company has a market capitalization of $31.85 billion, a PE ratio of 24.20, a PEG ratio of 3.93 and a beta of 0.89.

Teck Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors 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 annualized dividend and a dividend yield of 0.8%. Teck Resources’s dividend payout ratio (DPR) is 13.55%.

Analyst Ratings Changes

A number of research firms have issued reports on TECK. Benchmark increased their price objective on Teck Resources from $48.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Veritas downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a report on Monday. Wall Street Zen upgraded Teck Resources to a “buy” rating in a report on Saturday, May 16th. Finally, Weiss Ratings upgraded Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $59.17.

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.