Ninety One SA PTY Ltd Has $2.85 Million Stock Position in Teck Resources Limited (NYSE:TECK)

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

A number of other hedge funds have also recently added to or reduced their stakes in TECK. Swedbank AB acquired a new position in Teck Resources in the fourth quarter worth $103,878,000. FMR LLC lifted its stake in Teck Resources by 72.8% in the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company's stock valued at $189,848,000 after buying an additional 1,531,563 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in Teck Resources in the third quarter valued at $70,549,000. Principal Financial Group Inc. lifted its stake in 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 valued at $388,507,000 after buying an additional 1,326,241 shares during the last quarter. Finally, Holocene Advisors LP lifted its stake in 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 valued at $108,156,000 after buying an additional 1,251,203 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company's stock.

Teck Resources Price Performance

TECK traded up $0.45 during midday trading on Friday, reaching $43.04. 4,561,185 shares of the company's stock were exchanged, compared to its average volume of 2,856,734. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The business has a 50-day simple moving average of $42.57 and a two-hundred day simple moving average of $45.99. The firm has a market capitalization of $21.46 billion, a price-to-earnings ratio of 65.21 and a beta of 1.02. Teck Resources Limited has a one year low of $36.50 and a one year high of $55.13.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a dividend of $0.0895 per share. This represents a $0.36 annualized dividend and a yield of 0.83%. The ex-dividend date was Friday, December 13th. Teck Resources's dividend payout ratio is currently 53.03%.

Analysts Set New Price Targets

A number of research firms have issued reports on TECK. National Bank Financial cut Teck Resources from an "outperform" rating to a "sector perform" rating in a research note on Tuesday, December 10th. Raymond James cut their price objective on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 22nd. StockNews.com upgraded shares of Teck Resources from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut shares of Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 price objective on the stock. in a research note on Friday, October 25th. 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 given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Teck Resources has a consensus rating of "Moderate Buy" and a consensus target price 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.