Teck Resources Ltd (NYSE:TECK) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lowered its stake in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 28.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 146,505 shares of the basic materials company's stock after selling 59,203 shares during the period. Federated Hermes Inc.'s holdings in Teck Resources were worth $5,337,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TECK. LPL Financial LLC raised its stake in shares of Teck Resources by 5.1% in the 4th quarter. LPL Financial LLC now owns 152,327 shares of the basic materials company's stock valued at $6,174,000 after acquiring an additional 7,400 shares during the period. Franklin Resources Inc. raised its stake in shares of Teck Resources by 4.2% in the 4th quarter. Franklin Resources Inc. now owns 338,539 shares of the basic materials company's stock valued at $13,716,000 after acquiring an additional 13,669 shares during the period. Geode Capital Management LLC raised its stake in shares of Teck Resources by 32.3% in the 4th quarter. Geode Capital Management LLC now owns 2,750,146 shares of the basic materials company's stock valued at $114,190,000 after acquiring an additional 671,357 shares during the period. Prudential PLC acquired a new position in Teck Resources during the 4th quarter worth about $426,000. Finally, Aviva PLC lifted its stake in Teck Resources by 39.2% during the 4th quarter. Aviva PLC now owns 276,273 shares of the basic materials company's stock worth $11,179,000 after acquiring an additional 77,838 shares in the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TECK has been the topic of several research reports. Wall Street Zen raised Teck Resources from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Morgan Stanley lowered Teck Resources from an "overweight" rating to an "equal weight" rating and increased their target price for the stock from $42.00 to $44.00 in a research note on Tuesday, July 15th. Stifel Nicolaus initiated coverage on Teck Resources in a research note on Wednesday, July 9th. They set a "hold" rating on the stock. Royal Bank Of Canada decreased their target price on Teck Resources from $82.00 to $67.00 and set an "outperform" rating on the stock in a research note on Friday, July 25th. Finally, CIBC lowered Teck Resources from a "sector outperform" rating to a "neutral" rating in a research note on Friday, July 25th. Thirteen analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Teck Resources presently has a consensus rating of "Hold" and a consensus target price of $60.11.

Teck Resources Price Performance

Shares of NYSE TECK opened at $31.61 on Monday. The stock's 50-day moving average is $37.84 and its two-hundred day moving average is $38.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.47 and a quick ratio of 2.45. Teck Resources Ltd has a 1-year low of $28.32 and a 1-year high of $54.13. The company has a market cap of $15.27 billion, a price-to-earnings ratio of 83.19, a price-to-earnings-growth ratio of 0.50 and a beta of 0.81.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.07. Teck Resources had a return on equity of 3.91% and a net margin of 2.51%. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the prior year, the business posted $0.79 EPS. The business's revenue for the quarter was up 12.3% on a year-over-year basis. Analysts forecast that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a $0.0918 dividend. This represents a $0.37 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, September 15th. This is an increase from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio (DPR) is currently 94.74%.

About Teck Resources

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.

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