JB Investments Management LLC decreased its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 51.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 5,157,969 shares of the basic materials company’s stock after selling 5,374,237 shares during the period. Teck Resources makes up about 100.0% of JB Investments Management LLC’s investment portfolio, making the stock its largest position. JB Investments Management LLC owned 0.90% of Teck Resources worth $134,984,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Teck Resources by 2.8% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 89,600 shares of the basic materials company’s stock worth $1,511,000 after buying an additional 2,400 shares in the last quarter. Comerica Bank boosted its holdings in Teck Resources by 6.9% in the third quarter. Comerica Bank now owns 63,544 shares of the basic materials company’s stock worth $1,319,000 after purchasing an additional 4,108 shares during the period. Oak Associates Ltd. OH boosted its holdings in Teck Resources by 5.3% in the third quarter. Oak Associates Ltd. OH now owns 83,874 shares of the basic materials company’s stock worth $1,769,000 after purchasing an additional 4,250 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in Teck Resources by 14.4% in the third quarter. Cubist Systematic Strategies LLC now owns 35,773 shares of the basic materials company’s stock worth $754,000 after purchasing an additional 4,514 shares during the period. Finally, PNC Financial Services Group Inc. acquired a new position in Teck Resources in the second quarter worth $124,000. Hedge funds and other institutional investors own 54.26% of the company’s stock.
TECK has been the subject of several analyst reports. MKM Partners reissued a “buy” rating and set a $30.00 price target on shares of Teck Resources in a report on Wednesday, September 20th. Deutsche Bank restated a “buy” rating and set a $26.00 price objective (up from $24.00) on shares of Teck Resources in a research note on Monday, September 25th. BMO Capital Markets boosted their price target on shares of Teck Resources from $40.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday, September 25th. Bank of America boosted their price target on shares of Teck Resources from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. Finally, ValuEngine upgraded shares of Teck Resources from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $28.94.
Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, October 26th. The basic materials company reported $0.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.09). Teck Resources had a net margin of 19.72% and a return on equity of 15.16%. equities analysts anticipate that Teck Resources Ltd will post 3.59 EPS for the current year.
The company also recently declared a special dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were paid a $0.3141 dividend. The ex-dividend date was Thursday, December 14th. This represents a dividend yield of 0.72%. Teck Resources’s payout ratio is 4.69%.
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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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