Union Bancaire Privee UBP SA Has $1.13 Million Stock Position in Teck Resources Ltd $TECK

Union Bancaire Privee UBP SA increased its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 172.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,560 shares of the basic materials company’s stock after acquiring an additional 14,924 shares during the period. Union Bancaire Privee UBP SA’s holdings in Teck Resources were worth $1,128,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc acquired a new position in shares of Teck Resources during the 3rd quarter worth approximately $26,000. Smartleaf Asset Management LLC boosted its holdings 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 buying an additional 351 shares during the last quarter. SouthState Bank Corp acquired a new stake in shares of Teck Resources in the 3rd quarter valued at approximately $50,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Teck Resources by 43.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,741 shares of the basic materials company’s stock valued at $76,000 after buying an additional 524 shares in the last quarter. Finally, Tobam grew its stake in shares of Teck Resources by 30.9% in the third quarter. Tobam now owns 2,011 shares of the basic materials company’s stock valued at $88,000 after buying an additional 475 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on TECK. Citigroup raised shares of Teck Resources from a “neutral” rating to a “buy” rating in a research report on Monday, February 2nd. Scotiabank reissued a “sector perform” rating on shares of Teck Resources in a research report on Tuesday, February 24th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $46.00 price objective on shares of Teck Resources in a research note on Wednesday, November 26th. Benchmark raised their target price on shares of Teck Resources from $48.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Finally, JPMorgan Chase & Co. lifted their price target on Teck Resources from $43.00 to $51.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $57.00.

Teck Resources Stock Down 4.3%

TECK opened at $45.35 on Friday. The stock’s fifty day simple moving average is $54.64 and its 200 day simple moving average is $47.02. Teck Resources Ltd has a 1-year low of $28.32 and a 1-year high of $62.41. The stock has a market cap of $21.83 billion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 2.76 and a beta of 0.77. 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 released its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.39. The firm had revenue of $2.23 billion during 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%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 earnings per share. As a group, research analysts expect that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Teck Resources Announces Dividend

The business 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 annualized dividend and a dividend yield of 1.1%. Teck Resources’s payout ratio is presently 18.32%.

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.