Ninety One SA PTY Ltd Sells 11,004 Shares of Teck Resources Limited (NYSE:TECK)

Ninety One SA PTY Ltd lowered its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 13.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,425 shares of the basic materials company’s stock after selling 11,004 shares during the period. Ninety One SA PTY Ltd’s holdings in Teck Resources were worth $2,854,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. U.S. Capital Wealth Advisors LLC boosted its holdings in shares of Teck Resources by 70.2% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 24,784 shares of the basic materials company’s stock valued at $1,004,000 after acquiring an additional 10,223 shares during the last quarter. Sonora Investment Management Group LLC boosted its holdings in Teck Resources by 22.0% in the fourth quarter. Sonora Investment Management Group LLC now owns 130,268 shares of the basic materials company’s stock worth $5,280,000 after purchasing an additional 23,510 shares during the last quarter. OLD National Bancorp IN grew its position in Teck Resources by 7.4% in the 4th quarter. OLD National Bancorp IN now owns 4,955 shares of the basic materials company’s stock worth $201,000 after purchasing an additional 341 shares during the period. Synergy Asset Management LLC raised its stake in Teck Resources by 77.7% during the 4th quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company’s stock valued at $685,000 after buying an additional 7,387 shares during the last quarter. Finally, Swedbank AB bought a new position in shares of Teck Resources during the 4th quarter valued at $103,878,000. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Price Performance

TECK stock opened at $41.92 on Wednesday. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. Teck Resources Limited has a 12 month low of $36.50 and a 12 month high of $55.13. The stock has a market cap of $20.90 billion, a PE ratio of 63.51 and a beta of 1.02. The company has a 50-day moving average price of $42.71 and a 200 day moving average price of $46.03.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a dividend of $0.0895 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.85%. Teck Resources’s dividend payout ratio is 53.03%.

Wall Street Analysts Forecast Growth

TECK has been the subject of several research analyst reports. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. reduced their price target on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft downgraded shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a report on Friday, October 25th. Raymond James reduced their price objective on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. Finally, UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $65.38.

Teck Resources Company Profile

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.