NorthCoast Asset Management LLC reduced its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 36.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,093 shares of the basic materials company’s stock after selling 13,535 shares during the period. NorthCoast Asset Management LLC’s holdings in Teck Resources were worth $508,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TECK. Capital Analysts LLC bought a new stake in shares of Teck Resources during the 2nd quarter worth $100,000. PNC Financial Services Group Inc. acquired a new position in Teck Resources during the 2nd quarter valued at $124,000. Tower Research Capital LLC TRC acquired a new position in Teck Resources during the 2nd quarter valued at $164,000. Candriam Luxembourg S.C.A. acquired a new position in Teck Resources during the 2nd quarter valued at $188,000. Finally, Investment Centers of America Inc. acquired a new position in Teck Resources during the 2nd quarter valued at $194,000. 46.23% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently commented on the stock. B. Riley reiterated a “buy” rating on shares of Teck Resources in a research note on Wednesday, November 1st. Raymond James Financial, Inc. reiterated an “outperform” rating on shares of Teck Resources in a research note on Tuesday, August 15th. Deutsche Bank AG reiterated a “buy” rating and set a $26.00 target price (up from $24.00) on shares of Teck Resources in a research note on Monday, September 25th. MKM Partners reiterated a “buy” rating and set a $30.00 target price on shares of Teck Resources in a research note on Wednesday, September 20th. Finally, Bank of America Corporation upped their target price on shares of Teck Resources from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $30.65.

Shares of Teck Resources Ltd (NYSE TECK) traded up $0.43 during mid-day trading on Friday, hitting $23.48. 1,860,000 shares of the stock were exchanged, compared to its average volume of 3,719,964. Teck Resources Ltd has a 52 week low of $14.56 and a 52 week high of $33.76. The firm has a market cap of $13,395.34, a PE ratio of 6.38, a price-to-earnings-growth ratio of 0.85 and a beta of 1.26. 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 firm also recently disclosed a special dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.3141 dividend. This represents a dividend yield of 0.72%. The ex-dividend date is Thursday, December 14th. Teck Resources’s dividend payout ratio is 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.

Institutional Ownership by Quarter for Teck Resources (NYSE:TECK)

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