Contrarius Investment Management Ltd Has $87.58 Million Stock Holdings in Teck Resources Ltd (NYSE:TECK)

Contrarius Investment Management Ltd cut its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 4.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,041,895 shares of the basic materials company’s stock after selling 216,074 shares during the quarter. Teck Resources makes up approximately 4.6% of Contrarius Investment Management Ltd’s holdings, making the stock its 8th biggest position. Contrarius Investment Management Ltd owned about 0.93% of Teck Resources worth $87,578,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Letko Brosseau & Associates Inc. boosted its stake in Teck Resources by 4.4% in the 3rd quarter. Letko Brosseau & Associates Inc. now owns 14,037,271 shares of the basic materials company’s stock worth $227,735,000 after purchasing an additional 589,326 shares during the period. Beutel Goodman & Co Ltd. boosted its stake in Teck Resources by 90,312.3% in the 3rd quarter. Beutel Goodman & Co Ltd. now owns 9,854,036 shares of the basic materials company’s stock worth $7,251,000 after purchasing an additional 9,843,137 shares during the period. QV Investors Inc. bought a new position in Teck Resources in the 4th quarter worth approximately $21,725,000. Massachusetts Financial Services Co. MA boosted its stake in Teck Resources by 2.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,249,608 shares of the basic materials company’s stock worth $20,281,000 after purchasing an additional 30,810 shares during the period. Finally, Millennium Management LLC boosted its stake in Teck Resources by 9,282.0% in the 3rd quarter. Millennium Management LLC now owns 1,083,480 shares of the basic materials company’s stock worth $17,584,000 after purchasing an additional 1,095,280 shares during the period. Institutional investors own 53.64% of the company’s stock.

Several research firms have weighed in on TECK. ValuEngine upgraded Teck Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, December 4th. Bank of America downgraded Teck Resources from a “buy” rating to an “underperform” rating in a research note on Wednesday, November 13th. Zacks Investment Research downgraded Teck Resources from a “hold” rating to a “strong sell” rating and set a $15.00 price target for the company. in a research note on Friday, January 3rd. Citigroup upgraded Teck Resources from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Monday, December 16th. Finally, BMO Capital Markets downgraded Teck Resources from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $30.00.

Shares of TECK opened at $14.01 on Friday. The stock has a market capitalization of $7.45 billion, a price-to-earnings ratio of 6.37 and a beta of 1.48. Teck Resources Ltd has a 1 year low of $12.72 and a 1 year high of $25.75. The business’s 50 day simple moving average is $15.27 and its 200-day simple moving average is $16.44. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.08 and a quick ratio of 1.28.

Teck Resources Profile

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include 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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Institutional Ownership by Quarter for Teck Resources (NYSE:TECK)

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