Allianz Asset Management GmbH Acquires 1,136,314 Shares of Teck Resources Ltd (TECK)

Allianz Asset Management GmbH increased its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 104.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,225,492 shares of the basic materials company’s stock after acquiring an additional 1,136,314 shares during the period. Allianz Asset Management GmbH owned about 0.39% of Teck Resources worth $46,748,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TECK. Bank of Nova Scotia purchased a new stake in shares of Teck Resources during the second quarter worth $27,111,000. American Century Companies Inc. purchased a new stake in Teck Resources in the second quarter worth about $6,823,000. The Manufacturers Life Insurance Company purchased a new position in shares of Teck Resources during the second quarter valued at approximately $73,078,000. Shell Asset Management Co. lifted its holdings in shares of Teck Resources by 175.3% during the third quarter. Shell Asset Management Co. now owns 152,720 shares of the basic materials company’s stock valued at $3,239,000 after purchasing an additional 97,242 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Teck Resources by 74.6% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 153,322 shares of the basic materials company’s stock valued at $3,234,000 after purchasing an additional 65,519 shares during the last quarter. 54.25% of the stock is owned by institutional investors.

Shares of Teck Resources Ltd (TECK) traded down $0.44 during trading hours on Friday, reaching $26.17. 2,353,188 shares of the company traded hands, compared to its average volume of 3,800,127. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.42. The company has a market cap of $15,181.00, a P/E ratio of 8.28, a price-to-earnings-growth ratio of 1.12 and a beta of 1.31. Teck Resources Ltd has a one year low of $14.56 and a one year high of $26.82.

The firm also recently disclosed a special dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were paid a dividend of $0.3141 per share. The ex-dividend date was Thursday, December 14th. This represents a dividend yield of 0.72%. Teck Resources’s dividend payout ratio is presently 5.06%.

Several equities analysts have recently issued reports on TECK shares. MKM Partners reiterated a “buy” rating and set a $40.00 target price on shares of Teck Resources in a report on Tuesday, September 12th. BidaskClub lowered shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 28th. ValuEngine lowered shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 6th. Zacks Investment Research upgraded shares of Teck Resources from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Thursday, October 5th. Finally, CIBC started coverage on shares of Teck Resources in a research report on Friday, November 17th. They issued a “sector outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and sixteen have issued a buy rating to the company. Teck Resources presently has an average rating of “Buy” and an average price target of $28.94.

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About Teck Resources

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.

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

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