8,503 Teck Resources Ltd $TECK Shares Purchased by Vontobel Holding Ltd.

Vontobel Holding Ltd. increased its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 8.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,052 shares of the basic materials company’s stock after acquiring an additional 8,503 shares during the quarter. Vontobel Holding Ltd.’s holdings in Teck Resources were worth $7,312,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its position in Teck Resources by 117.4% in the first quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 303 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Teck Resources by 411.8% during the first quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 453 shares during the last quarter. Fortitude Family Office LLC purchased a new position in shares of Teck Resources during the third quarter worth about $46,000. Versant Capital Management Inc grew its holdings in shares of Teck Resources by 86.5% during the second quarter. Versant Capital Management Inc now owns 1,587 shares of the basic materials company’s stock worth $94,000 after purchasing an additional 736 shares during the last quarter. Finally, Oslo Pensjonsforsikring AS acquired a new stake in shares of Teck Resources during the first quarter worth about $83,000. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Stock Performance

Shares of TECK stock opened at $64.59 on Friday. The stock has a market capitalization of $31.21 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 2.08 and a beta of 1.01. Teck Resources Ltd has a 52-week low of $38.00 and a 52-week high of $72.56. The stock’s 50-day moving average price is $66.93 and its 200 day moving average price is $62.68. The company has a quick ratio of 2.33, a current ratio of 3.12 and a debt-to-equity ratio of 0.12.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $1.35 EPS for the quarter, beating the consensus estimate of $0.95 by $0.40. Teck Resources had a return on equity of 10.42% and a net margin of 17.85%. The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the prior year, the business earned $0.38 EPS. The firm’s revenue was up 78.2% compared to the same quarter last year. As a group, equities research analysts forecast that Teck Resources Ltd will post 4.28 EPS for the current year.

Teck Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders 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 dividend yield of 0.8%. Teck Resources’s payout ratio is presently 9.76%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Weiss Ratings raised Teck Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. JPMorgan Chase & Co. upped 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, July 28th. Wall Street Zen downgraded Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Deutsche Bank Aktiengesellschaft lifted their price target on Teck Resources from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Finally, Raymond James Financial upgraded Teck Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 23rd. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.25.

Teck Resources Profile

Teck Resources Limited is a Canadian mining and metals company headquartered in Vancouver, British Columbia. The company focuses primarily on the exploration, development and production of copper and zinc, which are used in construction, infrastructure, manufacturing and the global energy transition.

Teck’s copper operations include the Highland Valley Copper mine in British Columbia, the Carmen de Andacollo mine in Chile and the Quebrada Blanca operation in northern Chile. Its zinc business includes the Red Dog mine in Alaska, one of the world’s significant zinc-producing operations.