Regal Partners Ltd Sells 1,008,494 Shares of Teck Resources Ltd $TECK

Regal Partners Ltd decreased its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 28.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 2,512,870 shares of the basic materials company’s stock after selling 1,008,494 shares during the period. Teck Resources comprises 7.1% of Regal Partners Ltd’s portfolio, making the stock its 4th biggest position. Regal Partners Ltd owned about 0.52% of Teck Resources worth $130,041,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TECK. AQR Capital Management LLC lifted its position in shares of Teck Resources by 11.1% in the first quarter. AQR Capital Management LLC now owns 34,705 shares of the basic materials company’s stock worth $1,264,000 after purchasing an additional 3,458 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Teck Resources by 453.0% during the first quarter. Jones Financial Companies Lllp now owns 9,721 shares of the basic materials company’s stock worth $354,000 after purchasing an additional 7,963 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Teck Resources by 1.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 465,861 shares of the basic materials company’s stock valued at $16,971,000 after purchasing an additional 8,146 shares in the last quarter. Marshall Wace LLP grew its position in Teck Resources by 189.3% in the second quarter. Marshall Wace LLP now owns 218,242 shares of the basic materials company’s stock valued at $8,813,000 after purchasing an additional 142,816 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in Teck Resources by 4,602.9% in the 2nd quarter. NewEdge Advisors LLC now owns 8,183 shares of the basic materials company’s stock valued at $330,000 after buying an additional 8,009 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Performance

TECK opened at $58.70 on Wednesday. Teck Resources Ltd has a 12-month low of $30.98 and a 12-month high of $71.25. The stock has a market cap of $28.35 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 1.77 and a beta of 0.92. The business has a 50 day moving average of $61.43 and a 200-day moving average of $57.66. The company has a quick ratio of 2.16, a current ratio of 3.12 and a debt-to-equity ratio of 0.12.

Teck Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, September 15th. Teck Resources’s dividend payout ratio is 9.76%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Zacks Research cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. TD Securities restated a “hold” rating on shares of Teck Resources in a report on Friday, April 24th. JPMorgan Chase & Co. lifted their target price on Teck Resources from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday. Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a report on Monday, June 15th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Teck Resources in a research report on Tuesday, July 21st. Five research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $62.25.

About Teck Resources

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.