Cohen & Steers Inc. Purchases Shares of 106,538 Teck Resources Ltd (TECK)
Cohen & Steers Inc. acquired a new position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 106,538 shares of the basic materials company’s stock, valued at approximately $2,247,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of TECK. Letko Brosseau & Associates Inc. bought a new position in Teck Resources in the 2nd quarter worth $237,787,000. Impala Asset Management LLC bought a new position in Teck Resources in the 2nd quarter worth $217,614,000. Capital Research Global Investors bought a new position in Teck Resources in the 2nd quarter worth $187,626,000. Vanguard Group Inc. bought a new position in shares of Teck Resources in the 2nd quarter worth about $182,655,000. Finally, Contrarius Investment Management Ltd bought a new position in shares of Teck Resources in the 2nd quarter worth about $144,456,000. Institutional investors and hedge funds own 54.26% of the company’s stock.
TECK has been the subject of several research reports. Raymond James Financial reiterated an “outperform” rating on shares of Teck Resources in a research note on Tuesday, August 15th. MKM Partners reiterated a “buy” rating and issued a $28.00 price target (up from $25.00) on shares of Teck Resources in a research note on Thursday, August 24th. ValuEngine lowered shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 6th. BidaskClub lowered shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 15th. Finally, Axiom Securities initiated coverage on shares of Teck Resources in a research note on Monday, September 18th. They issued a “sell” rating and a $16.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $30.65.
Shares of Teck Resources Ltd (NYSE:TECK) traded up $0.46 during mid-day trading on Wednesday, reaching $23.88. 4,862,179 shares of the company traded hands, compared to its average volume of 5,010,479. Teck Resources Ltd has a one year low of $14.56 and a one year high of $26.45. The stock has a market cap of $13,275.53, a P/E ratio of 6.32, a price-to-earnings-growth ratio of 0.99 and a beta of 1.31. The company has a quick ratio of 1.42, a current ratio of 2.17 and a debt-to-equity ratio of 0.32.
The company also recently disclosed a special dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.3141 per share. This represents a yield of 0.72%. The ex-dividend date is Thursday, December 14th. Teck Resources’s dividend payout ratio (DPR) is 2.53%.
About Teck Resources
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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