CENTRAL TRUST Co Sells 3,377 Shares of Teck Resources Limited (NYSE:TECK)

CENTRAL TRUST Co trimmed its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 11.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,451 shares of the basic materials company’s stock after selling 3,377 shares during the period. CENTRAL TRUST Co’s holdings in Teck Resources were worth $1,032,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TECK. Forest Avenue Capital Management LP raised its position in shares of 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 bought a new stake in shares of Teck Resources in the third quarter valued at approximately $1,937,000. Synergy Asset Management LLC raised its position in shares of Teck Resources by 77.7% in the fourth quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company’s stock valued at $685,000 after purchasing an additional 7,387 shares during the period. CIBC Asset Management Inc raised its position in shares of Teck Resources by 2.6% in the third quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company’s stock valued at $341,337,000 after purchasing an additional 165,759 shares during the period. Finally, Intech Investment Management LLC raised its position in shares of Teck Resources by 20.9% in the third quarter. Intech Investment Management LLC now owns 98,145 shares of the basic materials company’s stock valued at $5,132,000 after purchasing an additional 16,981 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TECK has been the topic of several research reports. Raymond James lowered their price target on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. Scotiabank boosted their price target on shares of Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Tuesday, October 8th. StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lowered shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a report on Friday, October 25th. Finally, National Bank Financial lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Teck Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.38.

Teck Resources Trading Down 2.0 %

Shares of TECK opened at $40.07 on Tuesday. The stock has a market capitalization of $19.98 billion, a P/E ratio of 60.71 and a beta of 1.05. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $42.80 and a two-hundred day simple moving average of $46.07. Teck Resources Limited has a twelve month low of $36.50 and a twelve month high of $55.13.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a dividend of $0.0895 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.36 annualized dividend and a yield of 0.89%. Teck Resources’s payout ratio is currently 53.03%.

About Teck Resources

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.