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

Ninety One SA PTY Ltd lessened its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 13.5% in the 4th quarter, according to its most recent disclosure with the SEC. 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 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in shares of Teck Resources by 21.7% in the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock worth $388,507,000 after purchasing an additional 1,326,241 shares during the period. CIBC Asset Management Inc raised its stake in Teck Resources by 2.6% in the third quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company’s stock worth $341,337,000 after buying an additional 165,759 shares in the last quarter. AMF Tjanstepension AB lifted its holdings in Teck Resources by 3.9% during the third quarter. AMF Tjanstepension AB now owns 4,552,507 shares of the basic materials company’s stock worth $238,055,000 after buying an additional 169,476 shares during the period. FMR LLC boosted its position in Teck Resources by 72.8% during the 3rd quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock valued at $189,848,000 after acquiring an additional 1,531,563 shares in the last quarter. Finally, Regal Partners Ltd increased its holdings in shares of Teck Resources by 1.4% in the 3rd quarter. Regal Partners Ltd now owns 2,728,980 shares of the basic materials company’s stock valued at $142,562,000 after acquiring an additional 38,949 shares during the period. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

NYSE TECK opened at $41.92 on Wednesday. The company has a market cap of $20.90 billion, a price-to-earnings ratio of 63.51 and a beta of 1.02. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The stock’s fifty day moving average price is $42.71 and its 200 day moving average price is $46.03. Teck Resources Limited has a 1 year low of $36.50 and a 1 year high of $55.13.

Teck Resources Cuts Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TECK shares. Raymond James dropped their price objective on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft cut shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a report on Friday, October 25th. UBS Group lowered shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. National Bank Financial downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Finally, Scotiabank upped their price target on Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, October 8th. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Teck Resources currently has an average rating of “Moderate Buy” and an average price target of $65.38.

About Teck Resources

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.