Senator Investment Group LP Sells 328,227 Shares of Teck Resources Ltd $TECK

Senator Investment Group LP decreased its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 16.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,659,442 shares of the basic materials company’s stock after selling 328,227 shares during the period. Teck Resources makes up approximately 3.2% of Senator Investment Group LP’s holdings, making the stock its 11th biggest position. Senator Investment Group LP owned 0.34% of Teck Resources worth $79,471,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TECK. Norges Bank bought a new position in Teck Resources in the 4th quarter worth about $404,880,000. Wellington Management Group LLP boosted its stake in Teck Resources by 264.5% in 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 in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Teck Resources in the 4th quarter worth about $169,999,000. Pentwater Capital Management LP boosted its stake in Teck Resources by 7,150.0% in the 3rd quarter. Pentwater Capital Management LP now owns 2,900,000 shares of the basic materials company’s stock worth $127,281,000 after purchasing an additional 2,860,000 shares in the last quarter. Finally, Carrhae Capital LLP bought a new position in Teck Resources in the 4th quarter worth about $98,841,000. Institutional investors own 78.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on TECK. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Teck Resources in a research note on Friday, May 15th. Wall Street Zen raised Teck Resources to a “buy” rating in a research report on Saturday, May 16th. Zacks Research lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Benchmark boosted their target price on Teck Resources from $48.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Finally, TD Securities reissued a “hold” rating on shares of Teck Resources in a research report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $59.17.

Teck Resources Price Performance

Shares of NYSE:TECK opened at $66.07 on Tuesday. Teck Resources Ltd has a fifty-two week low of $30.98 and a fifty-two week high of $71.25. The business has a 50-day simple moving average of $61.21 and a two-hundred day simple moving average of $54.61. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.16 and a current ratio of 2.83. The firm has a market cap of $31.85 billion, a price-to-earnings ratio of 24.20, a price-to-earnings-growth ratio of 3.93 and a beta of 0.89.

Teck Resources Dividend Announcement

The firm also recently announced 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. This represents a $0.50 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, June 15th. Teck Resources’s payout ratio is 13.55%.

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.