Jones Collombin Investment Counsel Inc boosted its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 14.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 271,710 shares of the basic materials company’s stock after acquiring an additional 33,460 shares during the period. Teck Resources accounts for about 2.3% of Jones Collombin Investment Counsel Inc’s investment portfolio, making the stock its 21st largest position. Jones Collombin Investment Counsel Inc’s holdings in Teck Resources were worth $7,105,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bartlett & Co. LLC acquired a new stake in Teck Resources in the 4th quarter valued at about $118,000. Atria Investments LLC boosted its stake in shares of Teck Resources by 55.9% during the 4th quarter. Atria Investments LLC now owns 20,337 shares of the basic materials company’s stock worth $532,000 after purchasing an additional 7,289 shares during the last quarter. Addenda Capital Inc. boosted its stake in shares of Teck Resources by 37.6% during the 4th quarter. Addenda Capital Inc. now owns 456,004 shares of the basic materials company’s stock worth $11,965,000 after purchasing an additional 124,610 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of Teck Resources by 14.4% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 35,773 shares of the basic materials company’s stock worth $754,000 after purchasing an additional 4,514 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in shares of Teck Resources by 55.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 999,826 shares of the basic materials company’s stock worth $21,086,000 after purchasing an additional 357,940 shares during the last quarter. 53.04% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Teck Resources Ltd (NYSE TECK) traded up $0.19 during mid-day trading on Monday, hitting $29.43. 3,419,800 shares of the stock traded hands, compared to its average volume of 4,778,800. The stock has a market cap of $16,730.00, a price-to-earnings ratio of 8.68, a P/E/G ratio of 1.33 and a beta of 1.31. Teck Resources Ltd has a 1-year low of $14.56 and a 1-year high of $30.79. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.42 and a current ratio of 2.17.
Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.09). Teck Resources had a return on equity of 15.16% and a net margin of 19.72%. equities analysts expect that Teck Resources Ltd will post 3.67 earnings per share for the current year.
The firm also recently declared a special dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a $0.3141 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a yield of 0.72%. Teck Resources’s payout ratio is 4.72%.
Several equities research analysts have issued reports on TECK shares. BidaskClub cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 28th. Zacks Investment Research upgraded shares of Teck Resources from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Thursday, October 5th. ValuEngine upgraded shares of Teck Resources from a “hold” rating to a “buy” rating in a report on Friday, December 1st. CIBC assumed coverage on shares of Teck Resources in a report on Friday, November 17th. They set a “sector outperform” rating on the stock. Finally, Bank of America increased their price objective on shares of Teck Resources from $27.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $28.94.
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Teck Resources Company 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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