Covea Finance 13F: New $21M Stake in Teck Resources (TECK)

Covea Finance opened a brand-new stake in Teck Resources Limited TECK, buying 324,200 shares worth about $21.4 million. The holding was disclosed in a Form 13F filing with the U.S. Securities and Exchange Commission on October 21, 2026. Teck Resources closed at $62.78 on the day of the filing.

TECK Teck Resources Limited

$60.15 ▲ +25.81% year to date

1M 3M YTD

Daily close · Oct 22, 2026

What Changed in Covea Finance's Teck Resources Position

Covea Finance stepped into the mining company with a fresh position of 324,200 shares. Because this is a brand-new holding, there is no previous share count to compare against. The total value of the new stake stood at $21,418,005 based on the reported filing details.

Other Institutional Activity in Teck Resources

Other large investors adjusted their holdings in the copper producer during recent reporting periods. Principal Financial Group, Inc. grew its holdings by 956,690 shares, ending with 23,000,233 shares worth about $1.48 billion. Royal Bank of Canada grew its holdings by 1,640,662 shares, ending with 16,734,153 shares worth about $1.0 billion. Pentwater Capital Management grew its holdings by 460,000 shares, ending with 6,960,000 shares worth about $413.8 million. Hancock Prospecting Pty Ltd kept its holdings steady, ending with 10,298,293 shares worth about $618.2 million. On the other hand, Davis Selected Advisers reduced its holdings by 2,220,528 shares, ending with 8,363,497 shares worth about $502.1 million.

Teck Resources Limited Stock Down 4.4%

Teck Resources Limited TECK shares recently traded around $60.04 as of October 22, 2026, down about 4.4% from their $62.78 close on the filing date. The stock has moved between a 52-week low of $38.00 and a 52-week high of $72.56. Its recent price sits close to its 200-day moving average of $60.13.

Recent Earnings

The company generated $13.99 billion in trailing-twelve-month revenue with earnings of $3.68 per share. The miner operates with a net profit margin of 17.9% and a return on equity of 8.7%. The next earnings report is scheduled for October 29, 2026.

Dividend

Teck Resources pays an annual dividend of $0.35 per share, giving it a dividend yield of 0.56%. The payout ratio sits at 9.8%, meaning the company uses a small fraction of its earnings to fund the distribution.

Analysts Set New Price Targets

Wall Street firms have kept a close watch on the mining firm through the summer. On July 2, 2026, Deutsche Bank maintained its Buy rating while raising its price target to $68.00 from $64.00. Later, on July 9, 2026, JP Morgan maintained a Neutral rating with a $46.00 price target, and followed up on July 28, 2026, by maintaining its Neutral rating while nudging the target to $47.00. The stock currently holds a consensus rating of Hold from analysts, with a mean price target of $59.18 across four analyst opinions.

About Teck Resources

Based in Vancouver, British Columbia, Teck Resources Limited explores for, develops, and processes mineral properties. The company focuses primarily on copper and zinc operations, producing metal concentrates alongside other valuable minerals. Its operations span the Americas, Europe, and Asia.

Bottom Line

Covea Finance's new investment adds to a busy period of institutional repositioning in the mining sector. Investors will look toward the upcoming earnings release on October 29, 2026, for fresh updates on production and financial performance.