Barings LLC Lowers Stock Holdings in Teck Resources Ltd $TECK

Barings LLC reduced its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 21.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 102,025 shares of the basic materials company’s stock after selling 27,584 shares during the quarter. Barings LLC’s holdings in Teck Resources were worth $5,280,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. purchased a new stake in Teck Resources in the 4th quarter valued at about $25,000. Geneos Wealth Management Inc. lifted its holdings in shares of Teck Resources by 117.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 303 shares during the period. Blue Trust Inc. boosted its position in shares of Teck Resources by 411.8% in the first quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 453 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Teck Resources in the fourth quarter worth approximately $103,000. Finally, Banque Cantonale Vaudoise grew 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 valued at $112,000 after purchasing an additional 2,500 shares during the period. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Stock Performance

Shares of TECK stock opened at $55.76 on Friday. The company has a current ratio of 2.83, a quick ratio of 2.16 and a debt-to-equity ratio of 0.13. The company has a market cap of $26.92 billion, a PE ratio of 20.43, a P/E/G ratio of 1.72 and a beta of 0.92. The company’s fifty day simple moving average is $62.37 and its 200-day simple moving average is $57.16. Teck Resources Ltd has a 52 week low of $30.98 and a 52 week high of $71.25.

Teck Resources Announces Dividend

The business also recently disclosed 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. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Monday, June 15th. Teck Resources’s payout ratio is currently 13.19%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a research report on Monday, June 15th. Weiss Ratings raised shares of Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Zacks Research downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Wall Street Zen raised Teck Resources to a “buy” rating in a research report on Saturday, May 16th. Finally, Veritas cut Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. Five analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, Teck Resources presently has a consensus rating of “Hold” and a consensus target price of $63.00.

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.