Teck Resources Ltd $TECK Stock Position Reduced by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC cut its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 74.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,637 shares of the basic materials company’s stock after selling 10,850 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Teck Resources were worth $239,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. HBK Investments L P grew its stake in shares of Teck Resources by 264.2% during the second quarter. HBK Investments L P now owns 5,773,121 shares of the basic materials company’s stock worth $343,270,000 after acquiring an additional 4,188,029 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Teck Resources by 17.1% during the first quarter. Principal Financial Group Inc. now owns 22,044,284 shares of the basic materials company’s stock valued at $1,139,051,000 after acquiring an additional 3,211,985 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Teck Resources by 48.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,270,386 shares of the basic materials company’s stock valued at $272,955,000 after purchasing an additional 1,720,066 shares during the last quarter. Amundi raised its position in shares of Teck Resources by 71.0% in the 1st quarter. Amundi now owns 1,424,706 shares of the basic materials company’s stock valued at $73,729,000 after purchasing an additional 591,600 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Teck Resources by 161.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 885,158 shares of the basic materials company’s stock valued at $45,817,000 after purchasing an additional 546,394 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Stifel Nicolaus upped their price target on shares of Teck Resources from $82.00 to $95.00 and gave the company a “hold” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Teck Resources from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Teck Resources from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th. Weiss Ratings upgraded shares of Teck Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Finally, Wall Street Zen lowered shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 26th. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $68.80.

Teck Resources Trading Up 1.4%

Teck Resources stock opened at $64.39 on Wednesday. The stock has a 50-day moving average price of $66.82 and a 200 day moving average price of $62.94. The company has a market capitalization of $31.11 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 2.04 and a beta of 1.01. Teck Resources Ltd has a 52 week low of $38.00 and a 52 week high of $72.56. The company has a quick ratio of 2.33, a current ratio of 3.12 and a debt-to-equity ratio of 0.12.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.40. Teck Resources had a net margin of 17.85% and a return on equity of 10.42%. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the company earned $0.38 EPS. Teck Resources’s quarterly revenue was up 78.2% on a year-over-year basis. Sell-side analysts anticipate that Teck Resources Ltd will post 4.28 EPS for the current year.

Teck Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were paid a dividend of C$0.12 per share. This represents a $0.50 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, September 15th. Teck Resources’s payout ratio is presently 9.76%.

Teck Resources Company Profile

Teck Resources Limited is a Canadian mining and mineral development company focused primarily on copper and zinc, commodities used in electrification, infrastructure, manufacturing and other industrial applications. The company explores for, develops and operates mines, mineral processing facilities and related infrastructure.

Teck’s copper assets include Highland Valley Copper in British Columbia, Canada; Carmen de Andacollo in Chile; and Quebrada Blanca in northern Chile. Its zinc operations include the Red Dog mine in Alaska and the Trail Operations metallurgical complex in British Columbia, which produces refined metals, alloys and other related products.