Sei Investments Co. increased its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 9,378.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 61,992 shares of the basic materials company’s stock after acquiring an additional 61,338 shares during the quarter. Sei Investments Co.’s holdings in Teck Resources were worth $1,307,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of Nova Scotia bought a new position in Teck Resources in the 2nd quarter worth about $27,111,000. American Century Companies Inc. bought a new position in Teck Resources in the 2nd quarter worth about $6,823,000. The Manufacturers Life Insurance Company bought a new position in Teck Resources in the 2nd quarter worth about $73,078,000. Shell Asset Management Co. boosted its stake in Teck Resources by 175.3% in the 3rd quarter. Shell Asset Management Co. now owns 152,720 shares of the basic materials company’s stock worth $3,239,000 after purchasing an additional 97,242 shares during the period. Finally, Prudential PLC bought a new position in Teck Resources in the 2nd quarter worth about $4,909,000. Institutional investors and hedge funds own 54.26% of the company’s stock.
A number of analysts have recently issued reports on TECK shares. B. Riley reiterated a “buy” rating on shares of Teck Resources in a research report on Wednesday, November 1st. ValuEngine upgraded Teck Resources from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Raymond James Financial reiterated an “outperform” rating on shares of Teck Resources in a research report on Tuesday, August 15th. Deutsche Bank reiterated a “buy” rating and set a $26.00 price target (up previously from $24.00) on shares of Teck Resources in a research report on Monday, September 25th. Finally, MKM Partners reiterated a “buy” rating and set a $30.00 price target on shares of Teck Resources in a research report on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nineteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $30.65.
The company also recently announced a special dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a $0.3141 dividend. The ex-dividend date is Thursday, December 14th. This represents a yield of 0.72%. Teck Resources’s payout ratio is 2.53%.
Teck Resources Profile
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.
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