Teck Resources Limited (NYSE:TECK) Shares Sold by Senator Investment Group LP

Senator Investment Group LP reduced its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 48.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 480,639 shares of the basic materials company's stock after selling 450,000 shares during the period. Senator Investment Group LP owned approximately 0.09% of Teck Resources worth $23,023,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. First Hawaiian Bank increased its holdings in Teck Resources by 6.0% in the first quarter. First Hawaiian Bank now owns 5,552 shares of the basic materials company's stock valued at $254,000 after buying an additional 313 shares in the last quarter. Cigna Investments Inc. New increased its stake in shares of Teck Resources by 3.8% during the second quarter. Cigna Investments Inc. New now owns 8,762 shares of the basic materials company's stock worth $420,000 after purchasing an additional 317 shares in the last quarter. Candriam S.C.A. increased its stake in shares of Teck Resources by 4.0% during the second quarter. Candriam S.C.A. now owns 8,897 shares of the basic materials company's stock worth $426,000 after purchasing an additional 343 shares in the last quarter. Daymark Wealth Partners LLC increased its stake in shares of Teck Resources by 4.2% during the second quarter. Daymark Wealth Partners LLC now owns 8,532 shares of the basic materials company's stock worth $409,000 after purchasing an additional 347 shares in the last quarter. Finally, Verdence Capital Advisors LLC boosted its position in Teck Resources by 3.3% during the first quarter. Verdence Capital Advisors LLC now owns 10,981 shares of the basic materials company's stock worth $503,000 after acquiring an additional 353 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Stock Performance

NYSE:TECK traded down $0.20 during trading hours on Monday, reaching $52.24. 2,947,441 shares of the company's stock were exchanged, compared to its average volume of 3,465,224. Teck Resources Limited has a 1-year low of $34.38 and a 1-year high of $55.13. The firm has a market capitalization of $26.69 billion, a price-to-earnings ratio of 23.12 and a beta of 1.01. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average of $47.29 and a 200 day moving average of $48.12.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.32. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $2.67 billion. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The business's revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 EPS. Research analysts anticipate that Teck Resources Limited will post 1.98 EPS for the current year.

Teck Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.625 per share. This is an increase from Teck Resources's previous quarterly dividend of $0.09. This represents a $2.50 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend was Friday, September 13th. Teck Resources's dividend payout ratio (DPR) is 16.37%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TECK shares. TD Securities upgraded shares of Teck Resources to a "strong-buy" rating in a research report on Tuesday, July 16th. JPMorgan Chase & Co. decreased their target price on shares of Teck Resources from $56.00 to $54.00 and set an "overweight" rating on the stock in a report on Thursday, July 25th. BMO Capital Markets started coverage on shares of Teck Resources in a report on Monday, July 15th. They issued an "outperform" rating on the stock. CIBC upped their price objective on shares of Teck Resources from $70.00 to $80.00 and gave the stock an "outperformer" rating in a report on Friday, July 12th. Finally, Morgan Stanley upped their target price on shares of Teck Resources from $55.00 to $60.00 and gave the stock an "overweight" rating in a research note on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Teck Resources currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.00.

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.