Alberta Investment Management Corp Sells 143,946 Shares of Teck Resources Ltd $TECK

Alberta Investment Management Corp lessened its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 12.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 992,300 shares of the basic materials company’s stock after selling 143,946 shares during the quarter. Alberta Investment Management Corp’s holdings in Teck Resources were worth $47,508,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TECK. Regal Partners Ltd lifted its position in shares of Teck Resources by 14.8% during the 3rd quarter. Regal Partners Ltd now owns 3,481,836 shares of the basic materials company’s stock valued at $152,818,000 after acquiring an additional 448,081 shares during the period. Union Bancaire Privee UBP SA grew its holdings in Teck Resources by 172.8% in the fourth quarter. Union Bancaire Privee UBP SA now owns 23,560 shares of the basic materials company’s stock worth $1,128,000 after purchasing an additional 14,924 shares during the period. 44 Wealth Management LLC increased its stake in Teck Resources by 250.8% in the third quarter. 44 Wealth Management LLC now owns 31,077 shares of the basic materials company’s stock valued at $1,364,000 after purchasing an additional 22,219 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Teck Resources by 2.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,916,856 shares of the basic materials company’s stock valued at $84,068,000 after purchasing an additional 37,419 shares in the last quarter. Finally, Temasek Holdings Private Ltd boosted its position in shares of Teck Resources by 1.1% during the 4th quarter. Temasek Holdings Private Ltd now owns 5,307,384 shares of the basic materials company’s stock worth $254,171,000 after purchasing an additional 57,380 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Down 1.9%

NYSE TECK opened at $64.51 on Friday. The firm has a market capitalization of $31.10 billion, a P/E ratio of 23.63, a PEG ratio of 3.98 and a beta of 0.89. The business has a fifty day simple moving average of $61.99 and a 200 day simple moving average of $55.10. Teck Resources Ltd has a 12 month low of $30.98 and a 12 month high of $71.25. The company has a current ratio of 2.83, a quick ratio of 2.16 and a debt-to-equity ratio of 0.13.

Teck Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.125 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.50 annualized dividend and a dividend yield of 0.8%. Teck Resources’s dividend payout ratio is presently 13.19%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a research report on Monday. Benchmark increased their target price on Teck Resources from $48.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Veritas cut Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Teck Resources from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Five equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Teck Resources presently has a consensus rating of “Hold” and an average price target of $59.17.

Teck Resources Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.