Cibc World Market Inc. Sells 309,073 Shares of Teck Resources Limited (NYSE:TECK)

Cibc World Market Inc. cut its holdings in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,618,019 shares of the basic materials company's stock after selling 309,073 shares during the period. Cibc World Market Inc. owned 0.93% of Teck Resources worth $187,168,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Swedbank AB acquired a new stake in Teck Resources in the fourth quarter valued at approximately $103,878,000. FMR LLC raised its holdings in shares of Teck Resources by 72.8% in the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company's stock worth $189,848,000 after buying an additional 1,531,563 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new position in shares of Teck Resources in the third quarter worth $70,549,000. Principal Financial Group Inc. raised its holdings in shares of Teck Resources by 21.7% in the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock worth $388,507,000 after buying an additional 1,326,241 shares during the last quarter. Finally, Holocene Advisors LP raised its holdings in shares of Teck Resources by 152.7% in the third quarter. Holocene Advisors LP now owns 2,070,377 shares of the basic materials company's stock worth $108,156,000 after buying an additional 1,251,203 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Raymond James decreased their price target on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, January 22nd. UBS Group cut shares of Teck Resources from a "buy" rating to a "neutral" rating in a report on Monday, November 11th. JPMorgan Chase & Co. decreased their price target 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. 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, Scotiabank raised their target price on shares of Teck Resources from $78.00 to $79.00 and gave the stock a "sector outperform" rating in a report on Tuesday, October 8th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $65.38.

Teck Resources Stock Up 1.4 %

TECK opened at $41.71 on Friday. 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 $43.06 and a two-hundred day moving average of $46.22. The stock has a market capitalization of $20.80 billion, a price-to-earnings ratio of 63.20 and a beta of 1.05.

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 of this dividend was Friday, December 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.86%. Teck Resources's dividend payout ratio (DPR) is 53.03%.

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.

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