Teck Resources Ltd (TECK) Stake Decreased by AMP Capital Investors Ltd
AMP Capital Investors Ltd lessened its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 15.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 538,215 shares of the basic materials company’s stock after selling 97,971 shares during the quarter. AMP Capital Investors Ltd owned about 0.09% of Teck Resources worth $11,304,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Capital Analysts LLC purchased a new stake in Teck Resources in the 2nd quarter valued at $100,000. PNC Financial Services Group Inc. purchased a new stake in Teck Resources in the 2nd quarter valued at $124,000. Private Advisor Group LLC purchased a new stake in Teck Resources in the 3rd quarter valued at $200,000. Tower Research Capital LLC TRC purchased a new stake in Teck Resources in the 2nd quarter valued at $164,000. Finally, Bourgeon Capital Management LLC purchased a new stake in Teck Resources in the 3rd quarter valued at $211,000. Institutional investors and hedge funds own 54.26% of the company’s stock.
Teck Resources Ltd (NYSE:TECK) traded up $0.23 during trading hours on Monday, hitting $23.00. 3,422,000 shares of the stock were exchanged, compared to its average volume of 5,028,133. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.42 and a current ratio of 2.17. Teck Resources Ltd has a fifty-two week low of $14.56 and a fifty-two week high of $26.45. The firm has a market cap of $13,330.00, a PE ratio of 6.25, a PEG ratio of 0.98 and a beta of 1.31.
The business also recently declared a special dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.3141 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a dividend yield of 0.72%. Teck Resources’s dividend payout ratio (DPR) is presently 2.42%.
TECK has been the topic of several recent research reports. Deutsche Bank reissued a “buy” rating and issued a $26.00 price objective (up from $24.00) on shares of Teck Resources in a research note on Monday, September 25th. MKM Partners reissued a “buy” rating and issued a $30.00 price objective on shares of Teck Resources in a research note on Wednesday, September 20th. Bank of America boosted their price objective 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. BidaskClub cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 15th. Finally, ValuEngine cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $30.65.
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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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