Sona Asset Management US LLC Acquires New Holdings in Teck Resources Ltd $TECK

Key Points

• Sona Asset Management US LLC acquired 20,000 Teck Resources shares valued at approximately $1.04 million during the first quarter. Institutional investors own 78.06% of the company, with several other funds also increasing or initiating positions.
• Teck’s latest results benefited from stronger copper and zinc prices, increased copper production and higher sales volumes. However, Red Dog zinc output declined 18%, although the company maintained its full-year zinc guidance.
• Teck declared a quarterly dividend of $0.125 per share, equivalent to $0.50 annually and a 0.8% yield. The stock opened at $60.30, while analysts maintain an overall “Hold” consensus with an average price target of $62.00.

Sona Asset Management US LLC bought a new position in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 20,000 shares of the basic materials company's stock, valued at approximately $1,035,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Weiss Asset Management LP acquired a new position in Teck Resources in the 1st quarter valued at approximately $1,340,000. Themes Management Co LLC lifted its holdings in shares of Teck Resources by 108.5% during the first quarter. Themes Management Co LLC now owns 10,333 shares of the basic materials company's stock worth $536,000 after purchasing an additional 5,376 shares during the period. Lombard Odier Asset Management Switzerland SA lifted its holdings in shares of Teck Resources by 6.9% during the first quarter. Lombard Odier Asset Management Switzerland SA now owns 44,744 shares of the basic materials company's stock worth $2,314,000 after purchasing an additional 2,872 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Teck Resources by 161.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 885,158 shares of the basic materials company's stock worth $45,817,000 after purchasing an additional 546,394 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Teck Resources in the first quarter worth $10,240,000. 78.06% of the stock is owned by institutional investors.

Key Teck Resources News

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 Trading Up 0.2%

TECK opened at $60.30 on Monday. Teck Resources Ltd has a twelve month low of $30.98 and a twelve month high of $71.25. 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 company has a fifty day moving average of $61.46 and a 200-day moving average of $57.54. The stock has a market cap of $29.12 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 1.78 and a beta of 0.92.

Teck Resources Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Zacks Research lowered Teck Resources from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 22nd. TD Securities reiterated a "hold" rating on shares of Teck Resources in a research report on Friday, April 24th. Veritas cut Teck Resources from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 4th. JPMorgan Chase & Co. decreased their price target on Teck Resources from $48.00 to $46.00 and set a "neutral" rating for the company in a research note on Thursday, July 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Teck Resources from $64.00 to $68.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. Five equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $62.00.

Teck Resources Company 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.

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