New York Life Investment Management LLC Buys 9,069 Shares of Teck Resources Ltd $TECK

New York Life Investment Management LLC grew its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 4.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 223,139 shares of the basic materials company’s stock after buying an additional 9,069 shares during the period. New York Life Investment Management LLC’s holdings in Teck Resources were worth $14,680,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Candriam S.C.A. lifted its stake in shares of Teck Resources by 11.0% in the 3rd quarter. Candriam S.C.A. now owns 17,608 shares of the basic materials company’s stock valued at $1,166,000 after purchasing an additional 1,747 shares in the last quarter. Ethic Inc. raised its stake in shares of Teck Resources by 92.7% in the 3rd quarter. Ethic Inc. now owns 14,397 shares of the basic materials company’s stock valued at $947,000 after acquiring an additional 6,925 shares during the period. 180 Wealth Advisors LLC purchased a new position in shares of Teck Resources in the 3rd quarter valued at $200,000. Kestra Advisory Services LLC lifted its holdings in shares of Teck Resources by 29.4% during the 3rd quarter. Kestra Advisory Services LLC now owns 6,604 shares of the basic materials company’s stock valued at $434,000 after acquiring an additional 1,499 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Teck Resources by 8.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 8,182 shares of the basic materials company’s stock valued at $538,000 after acquiring an additional 642 shares in the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Trading Up 1.4%

NYSE TECK opened at $63.72 on Thursday. The company’s fifty day simple moving average is $65.03 and its 200-day simple moving average is $60.89. Teck Resources Ltd has a 52 week low of $38.00 and a 52 week high of $72.56. The company has a current ratio of 2.80, a quick ratio of 2.18 and a debt-to-equity ratio of 0.11. The stock has a market cap of $30.79 billion, a P/E ratio of 11.40, a PEG ratio of 1.93 and a beta of 1.01.

Teck Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be paid a dividend of C$0.12 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $0.50 annualized dividend and a yield of 0.8%. Teck Resources’s payout ratio is 6.26%.

Analyst Upgrades and Downgrades

Several research firms have commented on TECK. Weiss Ratings raised Teck Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, November 4th. Stifel Nicolaus upped their target price on Teck Resources from $82.00 to $95.00 and gave the stock a “hold” rating in a research report on Tuesday, October 20th. JPMorgan Chase & Co. increased their target price on Teck Resources from $47.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, October 30th. Scotia raised their target price on Teck Resources from $83.00 to $88.00 and gave the company a “sector perform” rating in a report on Friday, October 30th. Finally, Raymond James Financial upgraded Teck Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, July 23rd. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Teck Resources has an average rating of “Hold” and an average price target of $75.25.

Teck Resources Profile

Teck Resources Limited is a Canadian mining company focused primarily on copper and zinc. Its activities include exploring, developing, mining, processing and marketing metals used in construction, manufacturing and other industrial applications. The company has operations and interests in Canada, the United States, Chile and Peru. Its portfolio includes copper mines and projects, zinc mining at the Red Dog operation in Alaska, and Trail Operations in British Columbia, which processes zinc and lead concentrates and produces refined metals and related products.