Bank of New York Mellon Corp Cuts Stock Holdings in Teck Resources Ltd $TECK

Bank of New York Mellon Corp cut its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 13.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 920,353 shares of the basic materials company’s stock after selling 143,991 shares during the quarter. Bank of New York Mellon Corp owned about 0.19% of Teck Resources worth $47,628,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. acquired a new stake in shares of Teck Resources in the 4th quarter worth approximately $25,000. Blue Trust Inc. boosted its position in Teck Resources by 411.8% during the first quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 453 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Teck Resources by 117.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock worth $29,000 after buying an additional 303 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in Teck Resources during the 4th quarter valued at about $103,000. Finally, Banque Cantonale Vaudoise increased its holdings in Teck Resources by 5,102.0% during the 3rd quarter. Banque Cantonale Vaudoise now owns 2,549 shares of the basic materials company’s stock valued at $112,000 after acquiring an additional 2,500 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on TECK shares. Scotiabank reissued a “sector perform” rating on shares of Teck Resources in a research report on Monday, June 15th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Teck Resources from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Zacks Research lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Wall Street Zen upgraded Teck Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 18th. Finally, Veritas downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $62.00.

Trending Headlines about Teck Resources

Here are the key news stories impacting Teck Resources this week:

• Positive Sentiment: Teck’s Q2 earnings and revenue beat expectations, driven by stronger copper and zinc prices, higher sales volumes, and margin expansion. Teck Resources Q2 Earnings Beat Estimates, Sales & Margins Improve Y/Y
• Positive Sentiment: The company reported a sharp jump in quarterly profit on higher copper production and commodity prices, reinforcing optimism around Teck’s core metals business. Teck earns $854M Q2 profit, reports copper production up and higher commodity prices
• Positive Sentiment: Teck’s board declared a quarterly dividend of $0.125 per share, signaling continued cash generation and shareholder returns. Teck Announces Dividend
• Neutral Sentiment: Red Dog zinc output fell 18% in the quarter, though Teck said it is advancing a mine-life extension study and maintained full-year zinc guidance. Teck’s Red Dog Q2 Zinc Output Falls 18% as Mine-Life Extension PFS Advances
• Neutral Sentiment: Teck maintained its full-year zinc guidance despite the weaker Red Dog output, limiting concerns about near-term production disruption. Teck’s Q2 Zinc Gross Profit Rises to $353 Million; Full-Year Zinc Guidance Maintained

Teck Resources Stock Up 0.8%

Shares of Teck Resources stock opened at $60.30 on Friday. Teck Resources Ltd has a 1-year low of $30.98 and a 1-year high of $71.25. The company has a market capitalization of $29.12 billion, a PE ratio of 16.34, a P/E/G ratio of 1.77 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16. The business has a 50-day moving average of $61.46 and a 200-day moving average of $57.49.

Teck Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Teck Resources’s dividend payout ratio is presently 9.76%.

Teck Resources 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.