Alberta Investment Management Corp Invests $47.51 Million in Teck Resources Ltd $TECK

Alberta Investment Management Corp purchased a new position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 992,300 shares of the basic materials company’s stock, valued at approximately $47,508,000.

A number of other large investors have also modified their holdings of the business. Regal Partners Ltd lifted its holdings in shares of Teck Resources by 14.8% during the third quarter. Regal Partners Ltd now owns 3,481,836 shares of the basic materials company’s stock worth $152,818,000 after purchasing an additional 448,081 shares during the period. Union Bancaire Privee UBP SA lifted its holdings in shares of Teck Resources by 172.8% during 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 lifted its holdings in shares of Teck Resources by 250.8% during the third quarter. 44 Wealth Management LLC now owns 31,077 shares of the basic materials company’s stock worth $1,364,000 after purchasing an additional 22,219 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings 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 acquiring an additional 37,419 shares during the period. Finally, Cardinal Point Capital Management ULC acquired a new position in Teck Resources in the fourth quarter valued at approximately $379,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Benchmark boosted their price target on Teck Resources from $48.00 to $67.00 and gave the company a “buy” rating in a report on Monday, February 23rd. Wall Street Zen raised Teck Resources to a “buy” rating in a report on Saturday, May 16th. TD Securities reissued a “hold” rating on shares of Teck Resources in a report on Friday, April 24th. JPMorgan Chase & Co. boosted their price target on Teck Resources from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Finally, Zacks Research downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Five analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $59.17.

Teck Resources Stock Up 1.9%

Teck Resources stock opened at $66.07 on Tuesday. The stock has a market capitalization of $31.85 billion, a PE ratio of 24.20, a price-to-earnings-growth ratio of 3.93 and a beta of 0.89. Teck Resources Ltd has a 12 month low of $30.98 and a 12 month high of $71.25. The business has a 50 day simple moving average of $61.21 and a 200-day simple moving average of $54.61. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16.

Teck Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $0.125 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.8%. Teck Resources’s payout ratio is 13.55%.

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.