Teck Resources Limited (NYSE:TECK) Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd trimmed its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 24.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 644,981 shares of the basic materials company’s stock after selling 210,538 shares during the quarter. Ninety One UK Ltd’s holdings in Teck Resources were worth $26,138,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Synergy Asset Management LLC lifted its stake in shares of Teck Resources by 77.7% during the fourth quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company’s stock worth $685,000 after buying an additional 7,387 shares during the period. Forest Avenue Capital Management LP lifted its stake in shares of Teck Resources by 3.7% during the third quarter. Forest Avenue Capital Management LP now owns 720,920 shares of the basic materials company’s stock worth $37,661,000 after buying an additional 25,430 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Teck Resources during the third quarter worth $1,937,000. CIBC Asset Management Inc lifted its stake in shares of Teck Resources by 2.6% during the third quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company’s stock worth $341,337,000 after buying an additional 165,759 shares during the period. Finally, Intech Investment Management LLC lifted its stake in shares of Teck Resources by 20.9% during the third quarter. Intech Investment Management LLC now owns 98,145 shares of the basic materials company’s stock worth $5,132,000 after buying an additional 16,981 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TECK has been the subject of several research reports. Deutsche Bank Aktiengesellschaft downgraded shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research note on Friday, October 25th. JPMorgan Chase & Co. reduced their target price on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. National Bank Financial cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Finally, StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Teck Resources presently has an average rating of “Moderate Buy” and an average price target of $65.38.

Teck Resources Stock Up 1.4 %

TECK opened at $42.53 on Thursday. Teck Resources Limited has a fifty-two week low of $36.50 and a fifty-two week high of $55.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The company has a fifty day moving average of $42.64 and a two-hundred day moving average of $46.01. The stock has a market capitalization of $21.21 billion, a price-to-earnings ratio of 64.44 and a beta of 1.02.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a $0.0895 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.84%. Teck Resources’s dividend payout ratio (DPR) is 53.03%.

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.