ABN Amro Investment Solutions Sells 166,793 Shares of Teck Resources Ltd $TECK

ABN Amro Investment Solutions cut its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 32.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 344,196 shares of the basic materials company’s stock after selling 166,793 shares during the period. ABN Amro Investment Solutions owned 0.07% of Teck Resources worth $17,812,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. AQR Capital Management LLC grew its holdings in shares of Teck Resources by 11.1% during the 1st quarter. AQR Capital Management LLC now owns 34,705 shares of the basic materials company’s stock worth $1,264,000 after acquiring an additional 3,458 shares during the period. Jones Financial Companies Lllp lifted its position in Teck Resources by 453.0% during the 1st quarter. Jones Financial Companies Lllp now owns 9,721 shares of the basic materials company’s stock valued at $354,000 after acquiring an additional 7,963 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Teck Resources by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 465,861 shares of the basic materials company’s stock valued at $16,971,000 after acquiring an additional 8,146 shares during the period. Marshall Wace LLP boosted its stake in Teck Resources by 189.3% during the second quarter. Marshall Wace LLP now owns 218,242 shares of the basic materials company’s stock worth $8,813,000 after acquiring an additional 142,816 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in Teck Resources by 4,602.9% in the second quarter. NewEdge Advisors LLC now owns 8,183 shares of the basic materials company’s stock worth $330,000 after purchasing an additional 8,009 shares during the period. Institutional investors own 78.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TECK. Zacks Research lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. TD Securities reiterated a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. Veritas downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Weiss Ratings upgraded shares of Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Finally, Wall Street Zen upgraded shares of Teck Resources from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Five analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, Teck Resources has a consensus rating of “Hold” and an average price target of $63.00.

Teck Resources Price Performance

NYSE TECK opened at $56.80 on Wednesday. Teck Resources Ltd has a 52 week low of $30.98 and a 52 week high of $71.25. The firm has a market capitalization of $27.42 billion, a P/E ratio of 20.80, a PEG ratio of 1.61 and a beta of 0.92. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $61.78 and a 200-day moving average price of $57.32.

Teck Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Monday, June 15th. Teck Resources’s dividend payout ratio is currently 13.19%.

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.