K.J. Harrison & Partners Inc Lowers Stake in Teck Resources Ltd $TECK

K.J. Harrison & Partners Inc lowered its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 47.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,520 shares of the basic materials company’s stock after selling 40,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in Teck Resources were worth $2,303,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brown Brothers Harriman & Co. bought a new stake in shares of Teck Resources in the 4th quarter worth approximately $25,000. Blue Trust Inc. increased its position in Teck Resources by 411.8% during the 1st quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock valued at $29,000 after buying an additional 453 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in Teck Resources during the fourth quarter valued at $103,000. Banque Cantonale Vaudoise boosted its holdings in 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 acquiring an additional 2,500 shares in the last quarter. Finally, Ameriflex Group Inc. grew its stake in shares of Teck Resources by 149.1% in the third quarter. Ameriflex Group Inc. now owns 3,044 shares of the basic materials company’s stock worth $134,000 after acquiring an additional 1,822 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Performance

Shares of TECK stock opened at $59.96 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average price of $62.51 and a 200-day moving average price of $56.23. Teck Resources Ltd has a 52 week low of $30.98 and a 52 week high of $71.25. The firm has a market capitalization of $28.94 billion, a PE ratio of 21.96, a P/E/G ratio of 3.56 and a beta of 0.92.

Teck Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.125 per share. The ex-dividend date was Monday, June 15th. This represents a $0.50 dividend on an annualized basis and a yield of 0.8%. Teck Resources’s payout ratio is currently 13.19%.

Analyst Upgrades and Downgrades

TECK has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on Teck Resources from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Zacks Research lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Weiss Ratings upgraded shares of Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. TD Securities reissued a “hold” rating on shares of Teck Resources in a research report on Friday, April 24th. Finally, Wall Street Zen upgraded shares of Teck Resources to a “buy” rating in a report on Saturday, May 16th. Five investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $60.17.

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.