Teck Resources Ltd $TECK Stock Sold by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. cut its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 3.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 843,404 shares of the basic materials company’s stock after selling 31,325 shares during the period. Letko Brosseau & Associates Inc.’s holdings in Teck Resources were worth $55,663,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Geneos Wealth Management Inc. grew its position in shares of Teck Resources by 117.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 303 shares during the period. SBI Securities Co. Ltd. increased its stake in shares of Teck Resources by 101.8% in the 3rd quarter. SBI Securities Co. Ltd. now owns 900 shares of the basic materials company’s stock worth $59,000 after purchasing an additional 454 shares in the last quarter. AMG National Trust Bank raised its holdings in Teck Resources by 13.1% in the 1st quarter. AMG National Trust Bank now owns 5,531 shares of the basic materials company’s stock worth $286,000 after purchasing an additional 640 shares during the period. Commonwealth Equity Services LLC raised its holdings in Teck Resources by 8.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 8,182 shares of the basic materials company’s stock worth $538,000 after purchasing an additional 642 shares during the period. Finally, Fortitude Family Office LLC bought a new position in Teck Resources in the 3rd quarter worth $46,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Down 3.8%

Shares of TECK stock opened at $61.26 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.80 and a quick ratio of 2.18. Teck Resources Ltd has a one year low of $38.00 and a one year high of $72.56. The company’s fifty day moving average price is $64.92 and its 200-day moving average price is $60.92. The company has a market capitalization of $29.61 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 1.95 and a beta of 1.01.

Teck Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be paid a C$0.12 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, December 15th. Teck Resources’s dividend payout ratio is presently 6.44%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TECK. Wall Street Zen downgraded Teck Resources from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Weiss Ratings upgraded Teck Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, November 4th. Raymond James Financial raised Teck Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. lifted their price objective on Teck Resources from $47.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, October 30th. Finally, Scotia lifted their price objective on Teck Resources from $83.00 to $88.00 and gave the company a “sector perform” rating in a research report on Friday, October 30th. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, Teck Resources currently has an average rating of “Hold” and a consensus price target of $75.25.

About Teck Resources

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.