Mitsubishi UFJ Trust & Banking Corp Sells 12,100 Shares of Teck Resources Limited (NYSE:TECK)

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of Teck Resources Limited (NYSE:TECKGet Rating) (TSE:TECK) by 24.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,901 shares of the basic materials company’s stock after selling 12,100 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Teck Resources were worth $1,128,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TECK. Egerton Capital UK LLP lifted its stake in Teck Resources by 274.3% during the second quarter. Egerton Capital UK LLP now owns 10,301,465 shares of the basic materials company’s stock worth $314,916,000 after purchasing an additional 7,549,057 shares during the period. Cowa LLC grew its holdings in Teck Resources by 9,975.4% during 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 during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Teck Resources by 386.2% during 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 during the period. CIBC Asset Management Inc grew its holdings 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 valued at $278,261,000 after buying an additional 1,687,245 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings 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 valued at $96,601,000 after buying an additional 1,618,412 shares during the period. Institutional investors own 55.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on TECK. TD Securities cut shares of Teck Resources to a “buy” rating in a research report on Friday, October 28th. National Bank Financial boosted their price target on shares of Teck Resources from C$52.50 to C$60.00 in a research report on Thursday, October 13th. Canaccord Genuity Group cut shares of Teck Resources from a “buy” rating to a “hold” rating and cut their price target for the stock from C$51.00 to C$46.00 in a research report on Friday, October 28th. Barclays boosted their price target on shares of Teck Resources from C$40.00 to C$47.00 in a research report on Monday, October 17th. Finally, StockNews.com cut shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Monday, October 31st. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Teck Resources has a consensus rating of “Moderate Buy” and an average price target of $51.38.

Teck Resources Stock Down 0.2 %

Shares of TECK stock opened at $32.84 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.08 and a current ratio of 1.65. The firm’s 50-day moving average is $32.54 and its 200-day moving average is $33.74. The stock has a market cap of $16.57 billion, a price-to-earnings ratio of 5.00, a PEG ratio of 3.16 and a beta of 1.07. Teck Resources Limited has a 52-week low of $24.72 and a 52-week high of $45.90.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors 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 yield of 1.14%. Teck Resources’s dividend payout ratio (DPR) is currently 5.78%.

About Teck Resources

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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.

Further Reading

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

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