PCJ Investment Counsel Ltd. reduced its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 28.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 644,422 shares of the basic materials company’s stock after selling 255,860 shares during the period. Teck Resources makes up about 1.3% of PCJ Investment Counsel Ltd.’s investment portfolio, making the stock its 25th largest position. PCJ Investment Counsel Ltd.’s holdings in Teck Resources were worth $15,520,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Nomura Holdings Inc. lifted its holdings in shares of Teck Resources by 28.1% during the 2nd quarter. Nomura Holdings Inc. now owns 14,092 shares of the basic materials company’s stock valued at $359,000 after buying an additional 3,091 shares during the last quarter. Riverhead Capital Management LLC increased its position in Teck Resources by 246.7% in the 3rd quarter. Riverhead Capital Management LLC now owns 5,200 shares of the basic materials company’s stock worth $124,000 after buying an additional 3,700 shares during the period. Advisors Asset Management Inc. increased its position in Teck Resources by 2,675.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,191 shares of the basic materials company’s stock worth $107,000 after buying an additional 4,040 shares during the period. SG Americas Securities LLC increased its position in Teck Resources by 2.4% in the 2nd quarter. SG Americas Securities LLC now owns 183,597 shares of the basic materials company’s stock worth $4,673,000 after buying an additional 4,306 shares during the period. Finally, Janney Montgomery Scott LLC increased its position in shares of Teck Resources by 46.2% during the second quarter. Janney Montgomery Scott LLC now owns 14,236 shares of the basic materials company’s stock valued at $362,000 after purchasing an additional 4,499 shares during the period. 53.46% of the stock is currently owned by hedge funds and other institutional investors.
Teck Resources stock traded down $0.37 on Thursday, reaching $21.35. The company’s stock had a trading volume of 109,647 shares, compared to its average volume of 2,893,224. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.39 and a current ratio of 2.30. The firm has a market cap of $12.32 billion, a P/E ratio of 6.14, a P/E/G ratio of 0.61 and a beta of 1.60. Teck Resources Ltd has a twelve month low of $18.17 and a twelve month high of $30.80.
Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Wednesday, October 24th. The basic materials company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.11). Teck Resources had a net margin of 27.35% and a return on equity of 12.31%. The firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.40 billion. On average, equities research analysts predict that Teck Resources Ltd will post 3.4 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be paid a dividend of $0.038 per share. This represents a $0.15 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, December 13th. Teck Resources’s dividend payout ratio (DPR) is presently 4.37%.
Several brokerages recently commented on TECK. Canaccord Genuity reaffirmed a “buy” rating on shares of Teck Resources in a research note on Tuesday, October 30th. ValuEngine lowered Teck Resources from a “sell” rating to a “strong sell” rating in a research note on Friday, October 26th. MKM Partners reissued a “buy” rating on shares of Teck Resources in a research note on Friday, October 19th. TD Securities raised Teck Resources to a “buy” rating in a research note on Thursday. Finally, CIBC reissued a “buy” rating on shares of Teck Resources in a research note on Tuesday, October 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. Teck Resources currently has an average rating of “Buy” and an average target price of $31.43.
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Teck Resources Profile
Teck Resources Limited researches, explores for, develops, and produces natural resources in the Americas, the Asia Pacific, and Europe. It operates through five segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate. The company's principal products comprise steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.
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