Teck Resources Ltd (TECK) Holdings Trimmed by Addison Capital Co
Addison Capital Co reduced its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 9.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,472 shares of the basic materials company’s stock after selling 1,829 shares during the quarter. Addison Capital Co’s holdings in Teck Resources were worth $483,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in TECK. Bank of New York Mellon Corp purchased a new stake in shares of Teck Resources in the second quarter valued at about $10,365,000. Franklin Resources Inc. purchased a new stake in shares of Teck Resources in the second quarter valued at about $7,699,000. Wells Fargo & Company MN purchased a new stake in shares of Teck Resources in the second quarter valued at about $4,015,000. Alliancebernstein L.P. purchased a new stake in shares of Teck Resources in the second quarter valued at about $2,232,000. Finally, Ameriprise Financial Inc. purchased a new stake in shares of Teck Resources in the second quarter valued at about $284,000. 54.26% of the stock is currently owned by institutional investors.
Shares of Teck Resources Ltd (NYSE TECK) traded up $0.19 on Friday, hitting $29.43. 3,419,806 shares of the company traded hands, compared to its average volume of 4,778,800. The company has a quick ratio of 1.42, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $16,970.00, a P/E ratio of 8.63, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. Teck Resources Ltd has a fifty-two week low of $14.56 and a fifty-two week high of $30.79.
The business also recently declared a special dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were given a dividend of $0.3141 per share. This represents a yield of 0.72%. The ex-dividend date was Thursday, December 14th. Teck Resources’s dividend payout ratio (DPR) is 4.69%.
Several brokerages have issued reports on TECK. Clarkson Capital downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday. Scotiabank raised shares of Teck Resources from an “outperform” rating to a “focus list” rating in a research note on Monday, January 8th. Citigroup downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, December 4th. ValuEngine raised shares of Teck Resources from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, CIBC assumed coverage on shares of Teck Resources in a research note on Friday, November 17th. They set a “sector outperform” rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Teck Resources presently has a consensus rating of “Buy” and an average price target of $28.94.
Teck Resources 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.
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