Public Employees Retirement System of Ohio Sells 102,260 Shares of Teck Resources Ltd $TECK

Public Employees Retirement System of Ohio lessened its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 21.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 369,804 shares of the basic materials company’s stock after selling 102,260 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.08% of Teck Resources worth $19,068,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Brown Brothers Harriman & Co. bought a new stake in Teck Resources during the 4th quarter worth about $25,000. Geneos Wealth Management Inc. lifted its position in Teck Resources by 117.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 303 shares during the period. Blue Trust Inc. boosted its stake in shares of Teck Resources by 411.8% in the 1st quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 453 shares during the last quarter. Oslo Pensjonsforsikring AS bought a new position in shares of Teck Resources in the 1st quarter valued at about $83,000. Finally, Flagship Harbor Advisors LLC bought a new position in shares of Teck Resources in the 4th quarter valued at about $103,000. Institutional investors own 78.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TECK shares. Raymond James Financial raised shares of Teck Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday. TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. Wall Street Zen cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Veritas lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a research report on Monday, June 15th. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Teck Resources presently has a consensus rating of “Hold” and an average price target of $62.00.

Teck Resources Stock Performance

Shares of TECK stock opened at $60.30 on Friday. The stock has a market cap of $29.12 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 1.78 and a beta of 0.92. The stock has a 50-day moving average of $61.46 and a 200-day moving average of $57.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16. Teck Resources Ltd has a one year low of $30.98 and a one year high of $71.25.

Teck Resources Dividend Announcement

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

Key Headlines Impacting 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

Teck Resources 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.