JPMorgan Chase & Co. trimmed its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 4.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,661,986 shares of the basic materials company’s stock after selling 80,898 shares during the period. JPMorgan Chase & Co. owned about 0.29% of Teck Resources worth $35,517,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of TECK. Capital Analysts LLC purchased a new stake in Teck Resources during the second quarter valued at about $100,000. PNC Financial Services Group Inc. bought a new position in shares of Teck Resources during the second quarter valued at about $124,000. Tower Research Capital LLC TRC bought a new position in shares of Teck Resources during the second quarter valued at about $164,000. Candriam Luxembourg S.C.A. bought a new position in shares of Teck Resources during the second quarter valued at about $188,000. Finally, Investment Centers of America Inc. bought a new position in shares of Teck Resources during the second quarter valued at about $194,000. Institutional investors and hedge funds own 54.26% of the company’s stock.
Several equities analysts have recently commented on the stock. MKM Partners reaffirmed a “buy” rating and set a $28.00 price objective (up from $25.00) on shares of Teck Resources in a research note on Thursday, August 24th. ValuEngine downgraded shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 6th. Citigroup downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, December 4th. Zacks Investment Research downgraded shares of Teck Resources from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Finally, BidaskClub raised shares of Teck Resources from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nineteen have issued a buy rating to the company’s stock. Teck Resources presently has a consensus rating of “Buy” and a consensus target price of $30.65.
Teck Resources Ltd (NYSE TECK) traded up $0.27 during mid-day trading on Tuesday, reaching $23.27. 2,670,000 shares of the company were exchanged, compared to its average volume of 5,018,225. Teck Resources Ltd has a 12 month low of $14.56 and a 12 month high of $26.45. The company has a market capitalization of $13,121.50, a P/E ratio of 6.25, a P/E/G ratio of 0.98 and a beta of 1.31. The company has a current ratio of 2.17, a quick ratio of 1.42 and a debt-to-equity ratio of 0.32.
The business also recently declared a special dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a $0.3141 dividend. This represents a yield of 0.72%. The ex-dividend date of this dividend is Thursday, December 14th. Teck Resources’s payout ratio is currently 2.53%.
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Teck Resources Company Profile
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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