Healthcare of Ontario Pension Plan Trust Fund Buys 546,394 Shares of Teck Resources Ltd $TECK

Key Points

• Healthcare of Ontario Pension Plan Trust Fund boosted its Teck Resources stake by 161.3% in the first quarter, buying 546,394 additional shares and bringing its total holding to 885,158 shares worth about $45.8 million.
• Teck Resources has continued to attract large institutional investors, with firms like Principal Financial Group, Vanguard, and others also increasing positions; institutional ownership now stands at 78.06%.
• Analysts are mixed on TECK, but recent company news has been positive: Teck beat Q2 earnings and revenue expectations, posted a sharp profit increase on higher copper production and prices, and declared a quarterly dividend of $0.125 per share.

Healthcare of Ontario Pension Plan Trust Fund raised its stake in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 161.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 885,158 shares of the basic materials company's stock after purchasing an additional 546,394 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.18% of Teck Resources worth $45,817,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Principal Financial Group Inc. boosted its position in shares of Teck Resources by 17.1% during the first quarter. Principal Financial Group Inc. now owns 22,044,284 shares of the basic materials company's stock valued at $1,139,051,000 after buying an additional 3,211,985 shares during the last quarter. Vanguard Group Inc. raised its position in Teck Resources by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 20,185,694 shares of the basic materials company's stock valued at $966,370,000 after buying an additional 278,481 shares during the last quarter. Davis Selected Advisers raised its position in Teck Resources by 9.0% in the 4th quarter. Davis Selected Advisers now owns 12,019,609 shares of the basic materials company's stock valued at $575,620,000 after buying an additional 995,947 shares during the last quarter. Hancock Prospecting Pty Ltd lifted its stake in Teck Resources by 31.7% during the 4th quarter. Hancock Prospecting Pty Ltd now owns 10,298,293 shares of the basic materials company's stock valued at $493,185,000 after acquiring an additional 2,477,344 shares in the last quarter. Finally, Norges Bank bought a new position in Teck Resources during the 4th quarter valued at $404,880,000. Institutional investors own 78.06% of the company's stock.

Wall Street Analyst Weigh In

TECK has been the topic of a number of analyst reports. Wall Street Zen downgraded shares of Teck Resources from a "strong-buy" rating to a "buy" rating in a report on Sunday. Raymond James Financial upgraded shares of Teck Resources from a "market perform" rating to an "outperform" rating in a report on Thursday. TD Securities reissued a "hold" rating on shares of Teck Resources in a research report on Friday, April 24th. Veritas cut shares of Teck Resources from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 4th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Teck Resources in a research report on Tuesday. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $62.00.

Teck Resources News Summary

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 Stock Performance

Shares of Teck Resources stock opened at $60.30 on Friday. The business's fifty day simple moving average is $61.46 and its 200 day simple moving average is $57.49. The company has a current ratio of 2.83, a quick ratio of 2.16 and a debt-to-equity ratio of 0.13. Teck Resources Ltd has a 12 month low of $30.98 and a 12 month high of $71.25. The firm has a market capitalization of $29.12 billion, a P/E ratio of 16.34, a price-to-earnings-growth ratio of 1.78 and a beta of 0.92.

Teck Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 15th. Teck Resources's payout ratio is presently 9.76%.

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.

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.