10,850 Teck Resources Ltd $TECK Shares Sold by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC lowered its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 74.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,637 shares of the basic materials company’s stock after selling 10,850 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Teck Resources were worth $239,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of TECK. Principal Financial Group Inc. lifted its holdings in shares of Teck Resources by 17.1% in the 1st 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 buying an additional 3,211,985 shares during the period. HBK Investments L P boosted its stake in shares of Teck Resources by 264.2% in 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 buying an additional 4,188,029 shares during the last quarter. Temasek Holdings Private Ltd grew its holdings in Teck Resources by 7.1% during the first quarter. Temasek Holdings Private Ltd now owns 5,685,453 shares of the basic materials company’s stock worth $294,015,000 after acquiring an additional 378,069 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Teck Resources by 48.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 5,270,386 shares of the basic materials company’s stock worth $272,955,000 after acquiring an additional 1,720,066 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Teck Resources by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 5,185,349 shares of the basic materials company’s stock worth $268,261,000 after acquiring an additional 28,531 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analyst Ratings Changes

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

Teck Resources Stock Up 1.4%

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

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Thursday, July 23rd. The basic materials company reported $1.35 earnings per share (EPS) 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 business had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period in the prior year, the company posted $0.38 EPS. The company’s revenue for the quarter was up 78.2% on a year-over-year basis. On average, research analysts expect that Teck Resources Ltd will post 4.28 earnings per share for the current year.

Teck Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were issued a C$0.12 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.50 dividend on an annualized basis and a yield of 0.8%. Teck Resources’s dividend 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.