Sona Asset Management US LLC Purchases Shares of 20,000 Teck Resources Ltd $TECK

Sona Asset Management US LLC purchased a new position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) during the first quarter, Holdings Channel.com reports. The firm purchased 20,000 shares of the basic materials company’s stock, valued at approximately $1,035,000.

Other large investors also recently modified their holdings of the company. Brown Brothers Harriman & Co. bought a new stake in shares of Teck Resources in the 4th quarter valued at $25,000. Blue Trust Inc. boosted its stake 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 acquiring an additional 453 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Teck Resources by 117.4% during the first quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 303 shares in the last quarter. Oslo Pensjonsforsikring AS acquired a new stake in Teck Resources in the first quarter worth $83,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in Teck Resources in the fourth quarter worth $103,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

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

Analysts Set New Price Targets

TECK has been the topic of several research reports. Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a report on Monday, June 15th. JPMorgan Chase & Co. decreased their target price on Teck Resources from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Wall Street Zen lowered Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Sunday. Raymond James Financial raised Teck Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday. Finally, Zacks Research downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Five equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Teck Resources presently has an average rating of “Hold” and a consensus target price of $62.00.

Teck Resources Stock Up 0.2%

Shares of NYSE:TECK opened at $60.30 on Monday. The business’s 50 day moving average is $61.46 and its 200 day moving average is $57.54. Teck Resources Ltd has a 12-month low of $30.98 and a 12-month high of $71.25. The stock has a market cap of $29.12 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.78 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.

Teck Resources Dividend Announcement

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

Teck Resources Company 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.