Teck Resources Ltd (NYSE:TECK) Shares Sold by Contrarius Investment Management Ltd

Contrarius Investment Management Ltd lessened its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 4.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 5,041,895 shares of the basic materials company’s stock after selling 216,074 shares during the period. Teck Resources makes up 4.6% of Contrarius Investment Management Ltd’s holdings, making the stock its 8th biggest holding. Contrarius Investment Management Ltd’s holdings in Teck Resources were worth $87,578,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Beutel Goodman & Co Ltd. raised its stake in shares of Teck Resources by 90,312.3% in the third quarter. Beutel Goodman & Co Ltd. now owns 9,854,036 shares of the basic materials company’s stock worth $159,786,000 after purchasing an additional 9,843,137 shares during the last quarter. QV Investors Inc. purchased a new position in Teck Resources during the fourth quarter valued at approximately $21,725,000. Millennium Management LLC raised its position in Teck Resources by 9,282.0% during the third quarter. Millennium Management LLC now owns 1,083,480 shares of the basic materials company’s stock valued at $17,584,000 after acquiring an additional 1,095,280 shares in the last quarter. Letko Brosseau & Associates Inc. raised its position in Teck Resources by 4.4% during the third quarter. Letko Brosseau & Associates Inc. now owns 14,037,271 shares of the basic materials company’s stock valued at $227,735,000 after acquiring an additional 589,326 shares in the last quarter. Finally, State of Tennessee Treasury Department purchased a new position in Teck Resources during the third quarter valued at approximately $8,106,000. 53.64% of the stock is owned by institutional investors and hedge funds.

Shares of TECK opened at $14.01 on Friday. The company has a current ratio of 2.08, a quick ratio of 1.28 and a debt-to-equity ratio of 0.20. Teck Resources Ltd has a 12 month low of $12.72 and a 12 month high of $25.75. The stock’s 50 day moving average is $15.27 and its two-hundred day moving average is $16.44. The firm has a market cap of $7.45 billion, a P/E ratio of 6.37 and a beta of 1.48.

Several research analysts recently weighed in on TECK shares. B. Riley started coverage on Teck Resources in a research report on Thursday, January 9th. They set a “buy” rating and a $35.00 price target for the company. Zacks Investment Research lowered Teck Resources from a “hold” rating to a “strong sell” rating and set a $15.00 price objective on the stock. in a report on Friday, January 3rd. Citigroup raised Teck Resources from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Monday, December 16th. ValuEngine raised Teck Resources from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th. Finally, BMO Capital Markets lowered Teck Resources from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $30.00.

Teck Resources Company Profile

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.

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Institutional Ownership by Quarter for Teck Resources (NYSE:TECK)

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