Teck Resources Limited (NYSE:TECK) Shares Bought by OLD National Bancorp IN

OLD National Bancorp IN grew its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 7.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,955 shares of the basic materials company’s stock after acquiring an additional 341 shares during the period. OLD National Bancorp IN’s holdings in Teck Resources were worth $201,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TECK. Forest Avenue Capital Management LP raised its position in Teck Resources by 3.7% in the third quarter. Forest Avenue Capital Management LP now owns 720,920 shares of the basic materials company’s stock valued at $37,661,000 after purchasing an additional 25,430 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Teck Resources in the 3rd quarter valued at $1,937,000. CIBC Asset Management Inc lifted its stake in Teck Resources by 2.6% during the 3rd quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company’s stock worth $341,337,000 after acquiring an additional 165,759 shares in the last quarter. Intech Investment Management LLC boosted its holdings in Teck Resources by 20.9% during the 3rd quarter. Intech Investment Management LLC now owns 98,145 shares of the basic materials company’s stock valued at $5,132,000 after acquiring an additional 16,981 shares during the period. Finally, Paloma Partners Management Co acquired a new position in Teck Resources in the 3rd quarter valued at about $20,896,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Scotiabank increased their price target on shares of Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft cut shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research report on Friday, October 25th. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. decreased their target price on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Finally, UBS Group downgraded Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $65.38.

Teck Resources Stock Down 2.2 %

TECK stock opened at $40.80 on Monday. The stock has a market cap of $20.35 billion, a P/E ratio of 61.82 and a beta of 1.05. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. Teck Resources Limited has a twelve month low of $36.50 and a twelve month high of $55.13. The company’s 50 day moving average is $42.94 and its two-hundred day moving average is $46.11.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a $0.0895 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.88%. Teck Resources’s dividend payout ratio (DPR) is presently 53.03%.

Teck Resources Company Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.