Pictet Asset Management SA Purchases 3,458 Shares of Teck Resources Limited (NYSE:TECK)

Pictet Asset Management SA raised its position in shares of Teck Resources Limited (NYSE:TECKGet Rating) (TSE:TECK) by 2.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 150,332 shares of the basic materials company’s stock after purchasing an additional 3,458 shares during the period. Pictet Asset Management SA’s holdings in Teck Resources were worth $4,587,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of TECK. Egerton Capital UK LLP bought a new stake in Teck Resources during the 1st quarter valued at $111,170,000. Cowa LLC raised its position in shares of Teck Resources by 9,975.4% in the 1st quarter. Cowa LLC now owns 2,008,935 shares of the basic materials company’s stock worth $811,000 after acquiring an additional 1,988,996 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Teck Resources by 386.2% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,203,590 shares of the basic materials company’s stock worth $88,953,000 after acquiring an additional 1,750,373 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Teck Resources by 32.5% in the 1st quarter. CIBC Asset Management Inc now owns 6,883,501 shares of the basic materials company’s stock worth $278,261,000 after acquiring an additional 1,687,245 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Teck Resources by 209.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,391,712 shares of the basic materials company’s stock worth $96,601,000 after acquiring an additional 1,618,412 shares in the last quarter. 55.01% of the stock is owned by institutional investors.

Teck Resources Stock Down 0.2 %

Shares of TECK opened at $32.84 on Friday. Teck Resources Limited has a 52 week low of $24.72 and a 52 week high of $45.90. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $16.57 billion, a price-to-earnings ratio of 5.00, a PEG ratio of 3.17 and a beta of 1.07. The stock’s 50-day moving average price is $32.54 and its 200-day moving average price is $33.81.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be paid a $0.0939 dividend. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.14%. Teck Resources’s payout ratio is 5.78%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Morgan Stanley reduced their price target on Teck Resources from $51.00 to $47.00 and set an “overweight” rating for the company in a research report on Monday, October 31st. Credit Suisse Group reduced their target price on Teck Resources from C$68.00 to C$63.00 in a research report on Tuesday, July 26th. BMO Capital Markets lowered Teck Resources from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $49.00 to $46.00 in a research report on Friday, October 28th. StockNews.com lowered Teck Resources from a “buy” rating to a “hold” rating in a research report on Monday, October 31st. Finally, Royal Bank of Canada reduced their target price on Teck Resources from C$60.00 to C$52.00 in a research report on Wednesday, November 2nd. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.38.

Teck Resources Profile

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Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, and Energy segments. The company's principal products include copper, zinc, steelmaking coal, and blended bitumen.

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

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