Quantitative Investment Management LLC trimmed its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 74.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 264,400 shares of the basic materials company’s stock after selling 762,000 shares during the quarter. Quantitative Investment Management LLC’s holdings in Teck Resources were worth $6,919,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in TECK. Ameriprise Financial Inc. purchased a new stake in Teck Resources during the 2nd quarter valued at about $284,000. Crossmark Global Holdings Inc. purchased a new stake in Teck Resources during the 3rd quarter valued at about $885,000. State of Wisconsin Investment Board grew its position in Teck Resources by 3.3% during the 3rd quarter. State of Wisconsin Investment Board now owns 644,046 shares of the basic materials company’s stock valued at $13,528,000 after purchasing an additional 20,300 shares during the last quarter. Keybank National Association OH purchased a new stake in Teck Resources during the 3rd quarter valued at about $218,000. Finally, Global X MANAGEMENT CO LLC grew its position in Teck Resources by 34.5% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 100,793 shares of the basic materials company’s stock valued at $2,117,000 after purchasing an additional 25,850 shares during the last quarter. 54.28% of the stock is currently owned by institutional investors.
Shares of Teck Resources Ltd (TECK) opened at $26.44 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.81. The stock has a market cap of $14,957.11, a PE ratio of 7.73, a PEG ratio of 0.72 and a beta of 1.37. Teck Resources Ltd has a 1-year low of $14.56 and a 1-year high of $30.80.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Wednesday, March 14th. This is a boost from Teck Resources’s previous quarterly dividend of $0.04. Teck Resources’s dividend payout ratio is 4.85%.
Several analysts recently commented on TECK shares. Zacks Investment Research downgraded shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. CIBC initiated coverage on shares of Teck Resources in a research report on Friday, November 17th. They set a “sector outperform” rating on the stock. ValuEngine raised shares of Teck Resources from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Citigroup downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, December 4th. Finally, Scotiabank raised shares of Teck Resources from an “outperform” rating to a “focus list” rating in a report on Monday, January 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Teck Resources has a consensus rating of “Buy” and an average price target of $30.06.
ILLEGAL ACTIVITY NOTICE: “Teck Resources Ltd (TECK) Position Reduced by Quantitative Investment Management LLC” was originally reported by American Banking News and is the property of of American Banking News. If you are reading this article on another website, it was copied illegally and republished in violation of U.S. and international copyright legislation. The original version of this article can be accessed at https://www.americanbankingnews.com/2018/03/12/teck-resources-ltd-teck-position-reduced-by-quantitative-investment-management-llc.html.
About Teck Resources
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.
Receive News & Ratings for Teck Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teck Resources and related companies with MarketBeat.com's FREE daily email newsletter.