Teck Resources Ltd $TECK Stock Position Increased by New York Life Investment Management LLC

New York Life Investment Management LLC increased its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 4.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 223,139 shares of the basic materials company’s stock after purchasing an additional 9,069 shares during the quarter. New York Life Investment Management LLC’s holdings in Teck Resources were worth $14,680,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Candriam S.C.A. raised its position in shares of Teck Resources by 11.0% in the third quarter. Candriam S.C.A. now owns 17,608 shares of the basic materials company’s stock valued at $1,166,000 after buying an additional 1,747 shares during the last quarter. Ethic Inc. lifted its stake in shares of Teck Resources by 92.7% during the third quarter. Ethic Inc. now owns 14,397 shares of the basic materials company’s stock valued at $947,000 after buying an additional 6,925 shares during the period. 180 Wealth Advisors LLC acquired a new stake in Teck Resources during the third quarter worth approximately $200,000. Kestra Advisory Services LLC boosted its position in Teck Resources by 29.4% during the third quarter. Kestra Advisory Services LLC now owns 6,604 shares of the basic materials company’s stock worth $434,000 after acquiring an additional 1,499 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in Teck Resources by 8.5% during the third quarter. Commonwealth Equity Services LLC now owns 8,182 shares of the basic materials company’s stock worth $538,000 after acquiring an additional 642 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on TECK shares. Wall Street Zen cut shares of Teck Resources from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Scotia increased their price target on Teck Resources from $83.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Friday, October 30th. Canaccord Genuity Group decreased their price objective on Teck Resources from $96.50 to $87.00 and set a “hold” rating on the stock in a report on Friday, October 30th. Raymond James Financial upgraded Teck Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Teck Resources from $47.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, October 30th. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, Teck Resources presently has a consensus rating of “Hold” and an average target price of $75.25.

Teck Resources Stock Up 1.4%

TECK opened at $63.72 on Thursday. Teck Resources Ltd has a 12 month low of $38.00 and a 12 month high of $72.56. The business has a 50-day moving average of $65.03 and a two-hundred day moving average of $60.89. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.80 and a quick ratio of 2.18. The stock has a market capitalization of $30.79 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01.

Teck Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be given a C$0.12 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $0.50 annualized dividend and a dividend yield of 0.8%. Teck Resources’s dividend payout ratio (DPR) is currently 6.26%.

Teck Resources Profile

Teck Resources Limited is a Canadian mining company focused primarily on copper and zinc. Its activities include exploring, developing, mining, processing and marketing metals used in construction, manufacturing and other industrial applications. The company has operations and interests in Canada, the United States, Chile and Peru. Its portfolio includes copper mines and projects, zinc mining at the Red Dog operation in Alaska, and Trail Operations in British Columbia, which processes zinc and lead concentrates and produces refined metals and related products.