Headlands Technologies LLC Sells 11,759 Shares of Teck Resources Ltd $TECK

Headlands Technologies LLC reduced its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 38.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,467 shares of the basic materials company’s stock after selling 11,759 shares during the quarter. Headlands Technologies LLC’s holdings in Teck Resources were worth $1,098,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TECK. Temasek Holdings Private Ltd lifted its holdings in shares of Teck Resources by 1.1% in the 4th quarter. Temasek Holdings Private Ltd now owns 5,307,384 shares of the basic materials company’s stock worth $254,171,000 after purchasing an additional 57,380 shares in the last quarter. New York Life Investment Management LLC acquired a new stake in Teck Resources in the 4th quarter valued at $11,014,000. Public Employees Retirement System of Ohio bought a new stake in Teck Resources during the 2nd quarter valued at $21,425,000. Cardinal Point Capital Management ULC acquired a new position in Teck Resources during the fourth quarter worth $379,000. Finally, ABN Amro Investment Solutions raised its holdings in Teck Resources by 156.4% during the fourth quarter. ABN Amro Investment Solutions now owns 510,989 shares of the basic materials company’s stock worth $24,471,000 after buying an additional 311,694 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Down 1.8%

NYSE TECK opened at $68.12 on Tuesday. The company has a current ratio of 3.12, a quick ratio of 2.33 and a debt-to-equity ratio of 0.12. The business has a fifty day simple moving average of $62.06 and a 200 day simple moving average of $59.74. Teck Resources Ltd has a 12 month low of $31.68 and a 12 month high of $71.93. The firm has a market capitalization of $32.90 billion, a P/E ratio of 18.46, a PEG ratio of 2.50 and a beta of 0.92.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.40. Teck Resources had a net margin of 17.85% and a return on equity of 10.42%. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the firm earned $0.38 EPS. The business’s revenue for the quarter was up 78.2% compared to the same quarter last year. On average, analysts predict that Teck Resources Ltd will post 3.48 EPS for the current fiscal year.

Teck Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Teck Resources’s dividend payout ratio (DPR) is presently 9.76%.

Analysts Set New Price Targets

TECK has been the topic of a number of recent research reports. Raymond James Financial raised shares of Teck Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 23rd. Scotiabank reissued a “sector perform” rating on shares of Teck Resources in a research report on Monday, June 15th. JPMorgan Chase & Co. upped their target price on shares of Teck Resources from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Teck Resources from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Finally, Veritas downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $62.25.

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.