Teck Resources Limited (NYSE:TECK) Stake Lessened by Ninety One UK Ltd

Ninety One UK Ltd lessened its holdings in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 24.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 644,981 shares of the basic materials company's stock after selling 210,538 shares during the period. Ninety One UK Ltd owned 0.13% of Teck Resources worth $26,138,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Daymark Wealth Partners LLC raised its position in shares of Teck Resources by 2.8% during the 3rd quarter. Daymark Wealth Partners LLC now owns 8,774 shares of the basic materials company's stock worth $458,000 after purchasing an additional 242 shares during the period. Exchange Traded Concepts LLC grew its stake in Teck Resources by 7.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company's stock worth $198,000 after buying an additional 327 shares during the last quarter. OLD National Bancorp IN increased its position in Teck Resources by 7.4% in the fourth quarter. OLD National Bancorp IN now owns 4,955 shares of the basic materials company's stock worth $201,000 after buying an additional 341 shares during the period. Bruce G. Allen Investments LLC lifted its stake in Teck Resources by 77.4% in the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company's stock valued at $46,000 after buying an additional 383 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its holdings in shares of Teck Resources by 5.7% during the fourth quarter. Park Avenue Securities LLC now owns 8,960 shares of the basic materials company's stock valued at $363,000 after acquiring an additional 486 shares during the period. Institutional investors and hedge funds own 78.06% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TECK shares. UBS Group downgraded shares of Teck Resources from a "buy" rating to a "neutral" rating in a research report on Monday, November 11th. StockNews.com raised Teck Resources from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. Raymond James decreased their price objective on Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft downgraded Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 target price on the stock. in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. decreased their price target on Teck Resources from $55.00 to $51.00 and set an "overweight" rating for the company in a research note on Thursday, January 16th. Six research 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. According to data from MarketBeat, Teck Resources currently has an average rating of "Moderate Buy" and a consensus price target of $65.38.

Teck Resources Price Performance

NYSE TECK traded up $0.45 on Friday, reaching $43.04. The company's stock had a trading volume of 4,561,185 shares, compared to its average volume of 2,856,734. The firm's 50 day moving average is $42.49 and its two-hundred day moving average is $45.97. The stock has a market cap of $21.46 billion, a PE ratio of 65.21 and a beta of 1.02. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. Teck Resources Limited has a twelve month low of $36.50 and a twelve month high of $55.13.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders 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 yield of 0.83%. 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.