Swiss National Bank Has $58.82 Million Stock Position in Teck Resources Ltd $TECK

by · The Cerbat Gem

Swiss National Bank reduced its stake in Teck Resources Ltd (NYSE:TECK – Free Report) (TSE:TECK) by 6.2% during the 3rd quarter, Holdings Channel reports. The fund owned 1,340,379 shares of the basic materials company’s stock after selling 88,300 shares during the period. Swiss National Bank’s holdings in Teck Resources were worth $58,824,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TECK. Versant Capital Management Inc bought a new position in shares of Teck Resources during the third quarter worth approximately $26,000. Smartleaf Asset Management LLC increased its position in Teck Resources by 72.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock worth $37,000 after buying an additional 351 shares during the period. SouthState Bank Corp acquired a new stake in shares of Teck Resources during the third quarter worth $50,000. Tobam bought a new stake in shares of Teck Resources in the second quarter valued at about $62,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position 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 acquiring an additional 524 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analysts Set New Price Targets

TECK has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price target on shares of Teck Resources from $43.00 to $51.00 and gave the stock a “neutral” rating in a research report on Friday, December 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $46.00 target price on shares of Teck Resources in a report on Wednesday, November 26th. Citigroup upgraded Teck Resources from a “neutral” rating to a “buy” rating in a research note on Monday, February 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Teck Resources in a research note on Wednesday, January 21st. Finally, Raymond James Financial cut Teck Resources from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Teck Resources has an average rating of “Hold” and an average target price of $57.00.

Get Our Latest Stock Analysis on Teck Resources

Teck Resources Stock Performance

Shares of NYSE:TECK opened at $53.22 on Thursday. Teck Resources Ltd has a 1 year low of $28.32 and a 1 year high of $62.41. The stock has a market capitalization of $25.62 billion, a price-to-earnings ratio of 26.35, a price-to-earnings-growth 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. The company’s 50 day simple moving average is $54.70 and its 200 day simple moving average is $46.27.

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

Teck Resources Dividend Announcement

The business also recently declared 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 0.9%. Teck Resources’s payout ratio is 17.82%.

About Teck Resources

(Free Report)

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.

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