Barometer Capital Management Inc. Boosts Stake in Teck Resources Limited (NYSE:TECK)

Barometer Capital Management Inc. boosted its position in shares of Teck Resources Limited (NYSE:TECKFree Report) (TSE:TECK) by 284.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 156,040 shares of the basic materials company’s stock after buying an additional 115,470 shares during the period. Teck Resources makes up about 2.3% of Barometer Capital Management Inc.’s portfolio, making the stock its 18th biggest holding. Barometer Capital Management Inc.’s holdings in Teck Resources were worth $6,724,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wetherby Asset Management Inc. boosted its stake in Teck Resources by 0.7% during the first quarter. Wetherby Asset Management Inc. now owns 39,655 shares of the basic materials company’s stock valued at $1,447,000 after buying an additional 270 shares during the last quarter. Daymark Wealth Partners LLC lifted its stake in shares of Teck Resources by 3.6% in the 3rd quarter. Daymark Wealth Partners LLC now owns 7,910 shares of the basic materials company’s stock valued at $341,000 after purchasing an additional 273 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of Teck Resources by 29.9% in the 2nd quarter. Private Trust Co. NA now owns 1,215 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 280 shares during the last quarter. Optimum Investment Advisors lifted its stake in shares of Teck Resources by 60.0% in the 2nd quarter. Optimum Investment Advisors now owns 800 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 300 shares during the last quarter. Finally, Synergy Asset Management LLC lifted its stake in shares of Teck Resources by 4.3% in the 2nd quarter. Synergy Asset Management LLC now owns 7,562 shares of the basic materials company’s stock valued at $318,000 after purchasing an additional 309 shares during the last quarter. 59.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Morgan Stanley lowered their price objective on Teck Resources from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, December 7th. StockNews.com initiated coverage on Teck Resources in a report on Monday, December 11th. They issued a “hold” rating on the stock. B. Riley reduced their price target on Teck Resources from $78.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, October 26th. UBS Group initiated coverage on Teck Resources in a report on Tuesday, January 16th. They issued a “buy” rating on the stock. Finally, TheStreet downgraded Teck Resources from a “b-” rating to a “c+” rating in a report on Tuesday, October 24th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Teck Resources has a consensus rating of “Moderate Buy” and an average price target of $64.61.

Get Our Latest Stock Report on Teck Resources

Teck Resources Trading Down 4.3 %

TECK traded down $1.71 during trading on Monday, hitting $38.00. 714,254 shares of the stock were exchanged, compared to its average volume of 3,332,460. The firm has a 50 day simple moving average of $39.58 and a 200 day simple moving average of $39.71. The firm has a market cap of $19.75 billion, a price-to-earnings ratio of 12.65, a P/E/G ratio of 5.42 and a beta of 1.15. Teck Resources Limited has a 1 year low of $32.48 and a 1 year high of $49.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.68 and a current ratio of 1.20.

Teck Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were issued a $0.125 dividend. The ex-dividend date was Thursday, December 14th. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.32%. Teck Resources’s dividend payout ratio (DPR) is currently 11.78%.

Teck Resources Profile

(Free Report)

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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