Lingohr & Partner Asset Management GmbH decreased its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 12.2% during the fourth quarter, Holdings Channel reports. The fund owned 125,241 shares of the basic materials company’s stock after selling 17,435 shares during the quarter. Teck Resources comprises 1.7% of Lingohr & Partner Asset Management GmbH’s investment portfolio, making the stock its 8th biggest position. Lingohr & Partner Asset Management GmbH’s holdings in Teck Resources were worth $3,278,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Teck Resources by 2.8% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 89,600 shares of the basic materials company’s stock worth $1,511,000 after acquiring an additional 2,400 shares during the last quarter. Comerica Bank boosted its holdings in Teck Resources by 6.9% during the 3rd quarter. Comerica Bank now owns 63,544 shares of the basic materials company’s stock valued at $1,319,000 after acquiring an additional 4,108 shares during the period. Oak Associates Ltd. OH boosted its holdings in Teck Resources by 5.3% during the 3rd quarter. Oak Associates Ltd. OH now owns 83,874 shares of the basic materials company’s stock valued at $1,769,000 after acquiring an additional 4,250 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in Teck Resources by 14.4% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 35,773 shares of the basic materials company’s stock valued at $754,000 after acquiring an additional 4,514 shares during the period. Finally, PNC Financial Services Group Inc. purchased a new position in Teck Resources during the 2nd quarter valued at $124,000. 54.26% of the stock is currently owned by institutional investors and hedge funds.
Shares of Teck Resources Ltd (NYSE:TECK) traded down $0.63 during mid-day trading on Friday, hitting $29.24. The stock had a trading volume of 4,187,900 shares, compared to its average volume of 4,892,050. The company has a quick ratio of 1.42, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $16,860.00, a price-to-earnings ratio of 8.57, a PEG ratio of 1.48 and a beta of 1.31. Teck Resources Ltd has a fifty-two week low of $14.56 and a fifty-two week high of $30.79.
The company also recently disclosed a special dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were issued a $0.3141 dividend. This represents a dividend yield of 0.72%. The ex-dividend date of this dividend was Thursday, December 14th. Teck Resources’s dividend payout ratio is presently 4.69%.
TECK has been the subject of a number of recent analyst reports. Deutsche Bank restated a “buy” rating and set a $26.00 price objective (up previously from $24.00) on shares of Teck Resources in a report on Monday, September 25th. BMO Capital Markets upped their target price on Teck Resources from $40.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, September 25th. Bank of America upped their price objective on Teck Resources from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, October 4th. ValuEngine raised Teck Resources from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 5th. Finally, Zacks Investment Research raised Teck Resources from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $28.94.
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About Teck Resources
Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.
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