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.
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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