DJE Kapital AG Has $2.21 Million Stock Holdings in Teck Resources Ltd $TECK

Key Points

• DJE Kapital AG cut its Teck Resources stake by 45.3% in the first quarter, selling 36,221 shares and leaving it with 43,800 shares worth about $2.21 million.
• Institutional ownership in Teck remains high, with 78.06% of shares held by institutions and hedge funds, while several other investors also adjusted their positions during the quarter.
• Analyst sentiment is mixed: Teck has a Hold consensus rating with an average price target of $63, even though Deutsche Bank raised its target to $68 and gave the stock a buy rating.

DJE Kapital AG reduced its holdings in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 45.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 43,800 shares of the basic materials company's stock after selling 36,221 shares during the quarter. DJE Kapital AG's holdings in Teck Resources were worth $2,206,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kapitalo Investimentos Ltda lifted its holdings in shares of Teck Resources by 16.5% during the first quarter. Kapitalo Investimentos Ltda now owns 352,859 shares of the basic materials company's stock worth $18,260,000 after purchasing an additional 50,000 shares during the period. Dimensional Fund Advisors LP increased its holdings in Teck Resources by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 5,185,349 shares of the basic materials company's stock valued at $268,261,000 after purchasing an additional 28,531 shares during the period. SEB Asset Management AB acquired a new stake in Teck Resources in the first quarter valued at $3,005,000. Swiss National Bank raised its position in Teck Resources by 26.8% during the 1st quarter. Swiss National Bank now owns 1,536,979 shares of the basic materials company's stock worth $79,544,000 after purchasing an additional 325,000 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised 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 worth $29,000 after purchasing an additional 303 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TECK shares. Weiss Ratings upgraded Teck Resources from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on Teck Resources from $64.00 to $68.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Scotiabank reiterated a "sector perform" rating on shares of Teck Resources in a report on Monday, June 15th. JPMorgan Chase & Co. reduced their target price on Teck Resources from $48.00 to $46.00 and set a "neutral" rating on the stock in a report on Thursday, July 9th. Finally, Veritas downgraded shares of Teck Resources from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 4th. Five investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $63.00.

Teck Resources Price Performance

TECK stock opened at $54.54 on Tuesday. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13. The firm has a market cap of $26.33 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 1.63 and a beta of 0.92. The company's fifty day simple moving average is $61.96 and its 200 day simple moving average is $57.26. Teck Resources Ltd has a 12-month low of $30.98 and a 12-month high of $71.25.

Teck Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a dividend of $0.125 per share. The ex-dividend date was Monday, June 15th. This represents a $0.50 annualized dividend and a dividend yield of 0.9%. Teck Resources's dividend payout ratio is presently 13.19%.

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.

Want to see what other hedge funds are holding TECK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.