Teck Resources Ltd $TECK Stock Holdings Lowered by Alps Advisors Inc.

Key Points

• Alps Advisors cut its Teck Resources stake by 9.8% in the third quarter, selling 80,553 shares and retaining 738,180 shares valued at about $48.6 million.
• Institutional investors and hedge funds own 78.06% of Teck’s stock, though several major holders increased their positions during earlier quarters.
• Analyst sentiment is mixed, with a consensus Hold rating and an average price target of $75.25; Teck also declared a quarterly dividend of C$0.12 per share.

Alps Advisors Inc. reduced its stake in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 9.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 738,180 shares of the basic materials company's stock after selling 80,553 shares during the quarter. Alps Advisors Inc. owned 0.15% of Teck Resources worth $48,565,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in Teck Resources by 17.1% during the 1st quarter. Principal Financial Group Inc. now owns 22,044,284 shares of the basic materials company's stock valued at $1,139,051,000 after purchasing an additional 3,211,985 shares during the period. HBK Investments L P boosted its position in shares of Teck Resources by 264.2% during the second quarter. HBK Investments L P now owns 5,773,121 shares of the basic materials company's stock worth $343,270,000 after buying an additional 4,188,029 shares during the period. Temasek Holdings Private Ltd lifted its position in shares of Teck Resources by 7.1% in the first quarter. Temasek Holdings Private Ltd now owns 5,685,453 shares of the basic materials company's stock valued at $294,015,000 after buying an additional 378,069 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Teck Resources by 48.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,270,386 shares of the basic materials company's stock valued at $272,955,000 after purchasing an additional 1,720,066 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Teck Resources by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 5,185,349 shares of the basic materials company's stock worth $268,261,000 after purchasing an additional 28,531 shares during the period. Institutional investors and hedge funds own 78.06% of the company's stock.

Teck Resources Stock Performance

NYSE TECK opened at $60.46 on Friday. The company has a market capitalization of $29.21 billion, a P/E ratio of 10.82, a PEG ratio of 2.00 and a beta of 1.01. The business has a 50 day moving average price of $65.29 and a 200 day moving average price of $60.72. Teck Resources Ltd has a 1-year low of $38.00 and a 1-year high of $72.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.80 and a quick ratio of 2.33.

Teck Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be paid a dividend of C$0.12 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, December 15th. Teck Resources's dividend payout ratio is 6.44%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Canaccord Genuity Group dropped their price objective on Teck Resources from $96.50 to $87.00 and set a "hold" rating on the stock in a research note on Friday, October 30th. JPMorgan Chase & Co. lifted their price target on Teck Resources from $47.00 to $63.00 and gave the company a "neutral" rating in a research report on Friday, October 30th. Wall Street Zen cut Teck Resources from a "buy" rating to a "hold" rating in a report on Saturday, October 31st. Stifel Nicolaus lifted their target price on shares of Teck Resources from $82.00 to $95.00 and gave the stock a "hold" rating in a report on Tuesday, October 20th. Finally, Raymond James Financial raised Teck Resources from a "market perform" rating to an "outperform" rating in a research report on Thursday, July 23rd. Six research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $75.25.

Teck Resources Company Profile

Teck Resources Limited is a Canadian mining company focused primarily on copper and zinc. Its activities include exploring, developing, mining, processing and marketing metals used in construction, manufacturing and other industrial applications.

The company has operations and interests in Canada, the United States, Chile and Peru. Its portfolio includes copper mines and projects, zinc mining at the Red Dog operation in Alaska, and Trail Operations in British Columbia, which processes zinc and lead concentrates and produces refined metals and related products.

Teck traces its roots to mining operations established in the early 20th century.

Want to see what other hedge funds are holding TECK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.