Y Intercept Hong Kong Ltd Acquires 61,322 Shares of Teck Resources Ltd $TECK

Y Intercept Hong Kong Ltd grew its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 244.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 86,358 shares of the basic materials company’s stock after acquiring an additional 61,322 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Teck Resources were worth $4,469,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Teck Resources by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 20,185,694 shares of the basic materials company’s stock valued at $966,370,000 after purchasing an additional 278,481 shares in the last quarter. Principal Financial Group Inc. increased its stake in Teck Resources by 11.6% during the 4th 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% during the 4th quarter. Davis Selected Advisers now owns 12,019,609 shares of the basic materials company’s stock worth $575,620,000 after buying an additional 995,947 shares during the period. Hancock Prospecting Pty Ltd raised its holdings in Teck Resources by 31.7% during the 4th quarter. Hancock Prospecting Pty Ltd now owns 10,298,293 shares of the basic materials company’s stock worth $493,185,000 after buying an additional 2,477,344 shares during the period. Finally, Norges Bank acquired a new stake in Teck Resources during the 4th quarter worth approximately $404,880,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Teck Resources to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings upgraded shares of Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a research report on Friday, April 24th. Zacks Research lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. increased their target price on Teck Resources from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Five equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat.com, Teck Resources presently has a consensus rating of “Hold” and an average price target of $60.17.

Teck Resources Price Performance

Shares of NYSE TECK opened at $59.96 on Monday. 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 50-day moving average of $62.51 and a 200-day moving average of $56.33. The stock has a market capitalization of $28.94 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 3.56 and a beta of 0.92. Teck Resources Ltd has a fifty-two week low of $30.98 and a fifty-two week high of $71.25.

Teck Resources Dividend Announcement

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