Teck Resources Ltd $TECK Shares Sold by Braun Stacey Associates Inc.

Key Points

• Braun Stacey Associates cut its Teck Resources stake by 14.9% in Q4, selling 62,725 shares and leaving it with 356,920 shares valued at about $17.09 million.
• Other institutions moved materially — notably Principal Financial boosted its holding to 16.88 million shares (+36.1%, ~$740.6M) — and hedge funds/institutions now own about 78.06% of TECK.
• Teck posted Q4 EPS of $0.98 (beat $0.59 consensus) on $2.23B revenue, has a $25.44B market cap, pays a $0.125 quarterly dividend (0.9% yield), and carries a consensus analyst rating of "Moderate Buy" with a $57 target.

Braun Stacey Associates Inc. reduced its stake in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 14.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 356,920 shares of the basic materials company's stock after selling 62,725 shares during the quarter. Braun Stacey Associates Inc. owned 0.07% of Teck Resources worth $17,093,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TECK. Principal Financial Group Inc. grew its stake in shares of Teck Resources by 36.1% in the third quarter. Principal Financial Group Inc. now owns 16,879,229 shares of the basic materials company's stock valued at $740,604,000 after buying an additional 4,474,637 shares in the last quarter. Alps Advisors Inc. increased its stake in Teck Resources by 37.3% during the third quarter. Alps Advisors Inc. now owns 166,334 shares of the basic materials company's stock worth $7,300,000 after purchasing an additional 45,194 shares during the period. Regal Partners Ltd lifted its position in shares of Teck Resources by 14.8% during the third quarter. Regal Partners Ltd now owns 3,481,836 shares of the basic materials company's stock worth $152,818,000 after purchasing an additional 448,081 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Teck Resources by 10.8% in the second quarter. Invesco Ltd. now owns 5,565,955 shares of the basic materials company's stock valued at $224,753,000 after purchasing an additional 543,554 shares in the last quarter. Finally, 44 Wealth Management LLC increased its stake in Teck Resources by 250.8% during the 3rd quarter. 44 Wealth Management LLC now owns 31,077 shares of the basic materials company's stock worth $1,364,000 after buying an additional 22,219 shares during the period. Hedge funds and other institutional investors own 78.06% of the company's stock.

Teck Resources Price Performance

Shares of NYSE:TECK opened at $52.78 on Friday. Teck Resources Ltd has a 12 month low of $28.32 and a 12 month high of $62.41. The firm has a market capitalization of $25.44 billion, a P/E ratio of 26.13, a P/E/G ratio of 2.76 and a beta of 0.85. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.54 and a quick ratio of 1.91. The company's fifty day moving average price is $54.44 and its 200 day moving average price is $47.87.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.39. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.28 billion. Teck Resources had a return on equity of 5.90% and a net margin of 12.98%.The company's revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 earnings per share. As a group, sell-side analysts predict that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Teck Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, March 13th. Teck Resources's dividend payout ratio (DPR) is 18.32%.

Analysts Set New Price Targets

Several equities analysts have commented on TECK shares. Weiss Ratings restated a "hold (c)" rating on shares of Teck Resources in a research note on Wednesday, January 21st. Raymond James Financial downgraded Teck Resources from an "outperform" rating to a "market perform" rating in a report on Wednesday, January 14th. Scotiabank reissued a "sector perform" rating on shares of Teck Resources in a research report on Tuesday, February 24th. UBS Group reaffirmed a "buy" rating on shares of Teck Resources in a report on Tuesday, January 27th. Finally, Truist Financial set a $67.00 price objective on shares of Teck Resources in a research report on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, Teck Resources currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.00.

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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