J. Safra Sarasin Holding AG Has $1.23 Million Stock Position in Teck Resources Ltd $TECK

J. Safra Sarasin Holding AG raised its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 18.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,517 shares of the basic materials company’s stock after purchasing an additional 4,761 shares during the period. J. Safra Sarasin Holding AG’s holdings in Teck Resources were worth $1,232,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its stake in shares of Teck Resources by 69.2% in the 1st quarter. Smartleaf Asset Management LLC now owns 856 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 350 shares during the last quarter. Costello Asset Management INC bought a new stake in shares of Teck Resources in the 1st quarter valued at about $33,000. Banque Cantonale Vaudoise bought a new stake in shares of Teck Resources in the 1st quarter valued at about $36,000. Golden State Wealth Management LLC increased its stake in shares of Teck Resources by 7,560.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 1,134 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Teck Resources by 102.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 668 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on TECK shares. B. Riley cut Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Deutsche Bank Aktiengesellschaft raised Teck Resources from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research note on Monday, September 8th. Royal Bank Of Canada dropped their target price on shares of Teck Resources from $82.00 to $67.00 and set an “outperform” rating on the stock in a report on Friday, July 25th. Wall Street Zen upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Desjardins downgraded shares of Teck Resources from a “buy” rating to a “hold” rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.88.

Teck Resources Price Performance

Shares of TECK opened at $43.19 on Friday. The stock has a market capitalization of $20.74 billion, a P/E ratio of 113.65, a P/E/G ratio of 0.54 and a beta of 0.92. Teck Resources Ltd has a twelve month low of $28.32 and a twelve month high of $52.37. The company has a 50 day moving average of $36.02 and a 200-day moving average of $36.60. The company has a quick ratio of 2.45, a current ratio of 3.47 and a debt-to-equity ratio of 0.15.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, July 24th. The basic materials company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.07. The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Teck Resources had a net margin of 2.51% and a return on equity of 3.91%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the business earned $0.79 EPS. As a group, equities research analysts forecast that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were paid a dividend of $0.0918 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.37 annualized dividend and a dividend yield of 0.9%. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio (DPR) is 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.