Regal Partners Ltd Has $152.82 Million Stock Position in Teck Resources Ltd $TECK

Regal Partners Ltd raised its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 14.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,481,836 shares of the basic materials company’s stock after purchasing an additional 448,081 shares during the period. Teck Resources makes up 10.8% of Regal Partners Ltd’s portfolio, making the stock its 2nd biggest holding. Regal Partners Ltd’s holdings in Teck Resources were worth $152,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Versant Capital Management Inc bought a new stake in shares of Teck Resources in the third quarter valued at approximately $26,000. Smartleaf Asset Management LLC increased its stake in Teck Resources by 72.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 351 shares during the period. SouthState Bank Corp bought a new position in Teck Resources during the 3rd quarter worth $50,000. Tobam acquired a new position in Teck Resources in the 2nd quarter valued at $62,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Teck Resources by 43.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,741 shares of the basic materials company’s stock valued at $76,000 after acquiring an additional 524 shares in the last quarter. 78.06% of the stock is owned by institutional investors.

Teck Resources Trading Down 5.5%

Shares of Teck Resources stock opened at $50.51 on Friday. The firm’s 50 day moving average is $54.44 and its 200 day moving average is $45.85. The firm has a market capitalization of $24.32 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 3.08 and a beta of 0.77. Teck Resources Ltd has a 1 year low of $28.32 and a 1 year high of $62.41. The company has a current ratio of 2.54, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.59 by $0.39. Teck Resources had a net margin of 12.98% and a return on equity of 5.90%. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. Equities research analysts forecast that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Teck Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a dividend of $0.125 per share. The ex-dividend date is Friday, March 13th. This represents a $0.50 annualized dividend and a dividend yield of 1.0%. Teck Resources’s dividend payout ratio is 17.82%.

Wall Street Analyst Weigh In

TECK has been the topic of several analyst reports. TD Securities reissued a “hold” rating on shares of Teck Resources in a report on Monday, February 23rd. JPMorgan Chase & Co. boosted their price target on Teck Resources from $43.00 to $51.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a research report on Tuesday, February 24th. Truist Financial set a $67.00 target price on Teck Resources in a research note on Monday, February 23rd. Finally, Benchmark boosted their price target on Teck Resources from $48.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $58.00.

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.