44 Wealth Management LLC Decreases Holdings in Teck Resources Ltd $TECK

44 Wealth Management LLC trimmed its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 65.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,867 shares of the basic materials company’s stock after selling 20,621 shares during the period. 44 Wealth Management LLC’s holdings in Teck Resources were worth $562,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Temasek Holdings Private Ltd increased its stake 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 acquiring an additional 57,380 shares in the last quarter. New York Life Investment Management LLC bought a new stake in Teck Resources during the fourth quarter worth about $11,014,000. Cardinal Point Capital Management ULC purchased a new stake in Teck Resources in the fourth quarter worth about $379,000. ABN Amro Investment Solutions grew its holdings in Teck Resources by 156.4% in the fourth quarter. ABN Amro Investment Solutions now owns 510,989 shares of the basic materials company’s stock worth $24,471,000 after purchasing an additional 311,694 shares during the period. Finally, Perpetual Ltd bought a new position in shares of Teck Resources during the fourth quarter valued at approximately $26,838,000. 78.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TECK. Weiss Ratings restated a “hold (c+)” rating on shares of Teck Resources in a research note on Tuesday. Deutsche Bank Aktiengesellschaft boosted their target price on Teck Resources from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Raymond James Financial raised Teck Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday. Zacks Research downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Finally, Wall Street Zen lowered Teck Resources from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Teck Resources currently has an average rating of “Hold” and a consensus price target of $62.00.

Teck Resources Trading Up 0.8%

Teck Resources stock opened at $60.30 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16. Teck Resources Ltd has a one year low of $30.98 and a one year high of $71.25. The stock has a market capitalization of $29.12 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 1.78 and a beta of 0.92. The business’s fifty day moving average is $61.46 and its 200 day moving average is $57.49.

Teck Resources Dividend Announcement

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

Key Headlines Impacting 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

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.