Teck Resources Ltd $TECK Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC cut its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 21.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,809,272 shares of the basic materials company’s stock after selling 755,460 shares during the period. Janus Henderson Group PLC owned 0.58% of Teck Resources worth $145,116,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TECK. Norges Bank purchased a new stake in Teck Resources in the 4th quarter valued at $404,880,000. Wellington Management Group LLP grew its position in Teck Resources by 264.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,781,060 shares of the basic materials company’s stock worth $253,695,000 after purchasing an additional 4,194,868 shares during the last quarter. Pentwater Capital Management LP grew its position in Teck Resources by 124.1% during the 4th quarter. Pentwater Capital Management LP now owns 6,500,000 shares of the basic materials company’s stock worth $311,285,000 after purchasing an additional 3,600,000 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Teck Resources in the fourth quarter valued at $169,999,000. Finally, Principal Financial Group Inc. increased its stake in Teck Resources by 17.1% in the first quarter. Principal Financial Group Inc. now owns 22,044,284 shares of the basic materials company’s stock valued at $1,139,051,000 after purchasing an additional 3,211,985 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TECK has been the subject of several recent research reports. Zacks Research downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft raised their price target on Teck Resources from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. Raymond James Financial raised Teck Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 23rd. Finally, Veritas cut Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Five analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $62.25.

Teck Resources Price Performance

Shares of TECK opened at $60.19 on Friday. The company has a current ratio of 3.12, a quick ratio of 2.16 and a debt-to-equity ratio of 0.12. The stock’s 50 day moving average is $61.30 and its two-hundred day moving average is $57.83. Teck Resources Ltd has a twelve month low of $30.98 and a twelve month high of $71.25. The firm has a market capitalization of $29.07 billion, a PE ratio of 16.31, a P/E/G ratio of 1.83 and a beta of 0.92.

Teck Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Teck Resources’s dividend payout ratio (DPR) is currently 9.76%.

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.