Teck Resources Limited (NYSE:TECK) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 4.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 54,175 shares of the basic materials company’s stock after selling 2,585 shares during the period. Truist Financial Corp’s holdings in Teck Resources were worth $2,290,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Ninety One SA PTY Ltd grew its stake in Teck Resources by 45.1% in the fourth quarter. Ninety One SA PTY Ltd now owns 147,093 shares of the basic materials company’s stock worth $6,236,000 after purchasing an additional 45,750 shares in the last quarter. Mackenzie Financial Corp grew its stake in Teck Resources by 45.7% in the fourth quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock worth $280,491,000 after purchasing an additional 2,080,295 shares in the last quarter. Douglas Lane & Associates LLC lifted its holdings in Teck Resources by 54.3% in the fourth quarter. Douglas Lane & Associates LLC now owns 663,366 shares of the basic materials company’s stock worth $28,040,000 after acquiring an additional 233,361 shares during the last quarter. Pantechnicon Advisors LLP lifted its holdings in Teck Resources by 40.1% in the third quarter. Pantechnicon Advisors LLP now owns 465,000 shares of the basic materials company’s stock worth $20,037,000 after acquiring an additional 133,000 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Teck Resources by 4.6% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 120,841 shares of the basic materials company’s stock worth $5,191,000 after acquiring an additional 5,304 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Stock Performance

TECK opened at $49.56 on Thursday. Teck Resources Limited has a twelve month low of $34.38 and a twelve month high of $51.65. The stock has a market cap of $25.36 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 8.92 and a beta of 1.12. The business’s 50 day moving average is $45.72 and its 200-day moving average is $40.93. The company has a current ratio of 1.49, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, February 22nd. The basic materials company reported $1.02 EPS for the quarter, topping the consensus estimate of $1.01 by $0.01. Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. The firm had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $3.11 billion. On average, analysts predict that Teck Resources Limited will post 2.67 earnings per share for the current year.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be issued a dividend of $0.0911 per share. The ex-dividend date is Monday, June 17th. This represents a $0.36 annualized dividend and a yield of 0.74%. Teck Resources’s payout ratio is 16.37%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Benchmark raised their target price on shares of Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, April 8th. UBS Group assumed coverage on shares of Teck Resources in a report on Tuesday, January 16th. They issued a “buy” rating on the stock. Finally, Morgan Stanley reissued an “overweight” rating and issued a $55.00 target price on shares of Teck Resources in a report on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Teck Resources currently has an average rating of “Moderate Buy” and an average target price of $57.86.

Teck Resources Company Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.