Teck Resources Limited (NYSE:TECK) Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. cut its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 6.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,618,019 shares of the basic materials company’s stock after selling 309,073 shares during the period. Cibc World Market Inc.’s holdings in Teck Resources were worth $187,168,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Swedbank AB purchased a new position in Teck Resources during the fourth quarter worth about $103,878,000. FMR LLC raised its stake in Teck Resources by 72.8% during the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock worth $189,848,000 after purchasing an additional 1,531,563 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in Teck Resources during the third quarter worth about $70,549,000. Principal Financial Group Inc. raised its stake in Teck Resources by 21.7% during the third 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. Finally, Holocene Advisors LP raised its stake in Teck Resources by 152.7% during the third quarter. Holocene Advisors LP now owns 2,070,377 shares of the basic materials company’s stock worth $108,156,000 after purchasing an additional 1,251,203 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Price Performance

Shares of TECK opened at $41.71 on Friday. Teck Resources Limited has a fifty-two week low of $36.50 and a fifty-two week high of $55.13. The firm’s 50 day moving average price is $43.06 and its 200 day moving average price is $46.22. The company has a market cap of $20.80 billion, a P/E ratio of 63.20 and a beta of 1.05. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $0.0895 per share. This represents a $0.36 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Friday, December 13th. Teck Resources’s dividend payout ratio (DPR) is presently 53.03%.

Analyst Ratings Changes

A number of brokerages have commented on TECK. JPMorgan Chase & Co. reduced their target price on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Raymond James reduced their price target on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft downgraded shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research note on Friday, October 25th. 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, UBS Group downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.38.

Teck Resources Company Profile

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.