Mackenzie Financial Corp trimmed its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 15.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,552,407 shares of the basic materials company’s stock after selling 826,198 shares during the period. Mackenzie Financial Corp owned 0.80% of Teck Resources worth $96,010,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of TECK. US Bancorp DE acquired a new stake in shares of Teck Resources in the second quarter valued at about $320,000. Shell Asset Management Co. acquired a new stake in Teck Resources during the second quarter worth about $1,247,000. Candriam Luxembourg S.C.A. acquired a new stake in Teck Resources during the second quarter worth about $188,000. Korea Investment CORP acquired a new stake in Teck Resources during the second quarter worth about $16,441,000. Finally, IFP Advisors Inc acquired a new stake in Teck Resources during the second quarter worth about $372,000. Institutional investors and hedge funds own 54.26% of the company’s stock.
Several research firms recently issued reports on TECK. B. Riley restated a “buy” rating on shares of Teck Resources in a research report on Wednesday, November 1st. ValuEngine upgraded shares of Teck Resources from a “hold” rating to a “buy” rating in a research report on Friday. Citigroup cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday. Raymond James Financial restated an “outperform” rating on shares of Teck Resources in a research report on Tuesday, August 15th. Finally, Deutsche Bank restated a “buy” rating and set a $26.00 price objective (up from $24.00) on shares of Teck Resources in a research report on Monday, September 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $30.65.
The business also recently declared a special dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.3141 per share. This represents a dividend yield of 0.72%. The ex-dividend date is Thursday, December 14th. Teck Resources’s dividend payout ratio is presently 2.53%.
Teck Resources Company 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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