Swiss National Bank Sells 88,300 Shares of Teck Resources Ltd $TECK

Swiss National Bank lessened its stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 6.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,340,379 shares of the basic materials company’s stock after selling 88,300 shares during the quarter. Swiss National Bank owned 0.28% of Teck Resources worth $58,824,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in TECK. ASR Vermogensbeheer N.V. boosted its stake in Teck Resources by 1.6% in the 3rd quarter. ASR Vermogensbeheer N.V. now owns 16,721 shares of the basic materials company’s stock worth $734,000 after purchasing an additional 270 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Teck Resources by 72.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 351 shares during the period. CWM LLC lifted its holdings in shares of Teck Resources by 22.7% in the third quarter. CWM LLC now owns 2,078 shares of the basic materials company’s stock valued at $91,000 after purchasing an additional 384 shares in the last quarter. GSA Capital Partners LLP boosted its position in shares of Teck Resources by 1.0% during the third quarter. GSA Capital Partners LLP now owns 40,941 shares of the basic materials company’s stock worth $1,797,000 after buying an additional 409 shares during the period. Finally, VestGen Advisors LLC raised its position in Teck Resources by 7.9% in the 2nd quarter. VestGen Advisors LLC now owns 6,353 shares of the basic materials company’s stock valued at $257,000 after buying an additional 467 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on TECK. Benchmark boosted their target price on Teck Resources from $48.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $46.00 price objective on shares of Teck Resources in a research report on Wednesday, November 26th. Veritas raised shares of Teck Resources from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 15th. Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a research note on Tuesday, February 24th. Finally, National Bank Financial downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Teck Resources presently has a consensus rating of “Hold” and a consensus price target of $57.00.

Teck Resources Stock Performance

Shares of TECK stock opened at $53.22 on Thursday. The company has a fifty day moving average price of $54.70 and a two-hundred day moving average price of $46.27. Teck Resources Ltd has a one year low of $28.32 and a one year high of $62.41. The stock has a market cap of $25.62 billion, a P/E ratio of 26.35, a P/E/G ratio of 3.20 and a beta of 0.77. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.54 and a quick ratio of 1.91.

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

Teck Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.9%. Teck Resources’s payout ratio is presently 17.82%.

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.