Canada Pension Plan Investment Board Has $60.72 Million Position in Teck Resources Limited (NYSE:TECK)

Canada Pension Plan Investment Board grew its stake in Teck Resources Limited (NYSE:TECKFree Report) (TSE:TECK) by 9.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,404,210 shares of the basic materials company’s stock after buying an additional 121,530 shares during the period. Canada Pension Plan Investment Board owned 0.27% of Teck Resources worth $60,718,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TECK. Park Place Capital Corp acquired a new stake in shares of Teck Resources in the second quarter valued at about $27,000. Money Concepts Capital Corp acquired a new stake in Teck Resources during the fourth quarter worth approximately $29,000. Baystate Wealth Management LLC acquired a new stake in Teck Resources during the third quarter worth approximately $31,000. Optimum Investment Advisors grew its stake in Teck Resources by 60.0% during the second quarter. Optimum Investment Advisors now owns 800 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 300 shares during the period. Finally, JFS Wealth Advisors LLC grew its stake in Teck Resources by 249.0% during the third quarter. JFS Wealth Advisors LLC now owns 841 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 600 shares during the period. Institutional investors and hedge funds own 59.23% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Benchmark reaffirmed a “buy” rating and set a $50.00 target price on shares of Teck Resources in a research note on Monday, January 22nd. B. Riley decreased their target price on Teck Resources from $78.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. StockNews.com began coverage on Teck Resources in a report on Monday, December 11th. They issued a “hold” rating on the stock. UBS Group began coverage on Teck Resources in a report on Tuesday, January 16th. They issued a “buy” rating on the stock. Finally, Morgan Stanley cut their price target on Teck Resources from $47.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, December 7th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $64.61.

Check Out Our Latest Stock Analysis on TECK

Teck Resources Price Performance

Shares of NYSE TECK opened at $37.01 on Friday. The stock has a market cap of $19.24 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 4.40 and a beta of 1.15. Teck Resources Limited has a fifty-two week low of $32.48 and a fifty-two week 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. The stock has a fifty day moving average of $39.67 and a 200-day moving average of $39.60.

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 given a $0.125 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. This represents a $0.50 annualized dividend and a dividend yield of 1.35%. Teck Resources’s payout ratio is 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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