Bank of Nova Scotia Trust Co. Invests $256,000 in Teck Resources Ltd (TECK) Stock
Bank of Nova Scotia Trust Co. purchased a new position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 12,146 shares of the basic materials company’s stock, valued at approximately $256,000.
A number of other institutional investors and hedge funds also recently modified their holdings of TECK. Capital Analysts LLC acquired a new stake in Teck Resources during the 2nd quarter worth about $100,000. PNC Financial Services Group Inc. acquired a new stake in Teck Resources during the 2nd quarter worth about $124,000. Tower Research Capital LLC TRC acquired a new stake in Teck Resources during the 2nd quarter worth about $164,000. Candriam Luxembourg S.C.A. acquired a new stake in Teck Resources during the 2nd quarter worth about $188,000. Finally, Investment Centers of America Inc. acquired a new stake in Teck Resources during the 2nd quarter worth about $194,000. 54.26% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have commented on TECK. B. Riley restated a “buy” rating on shares of Teck Resources in a research report on Wednesday, November 1st. ValuEngine upgraded Teck Resources from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Raymond James Financial restated an “outperform” rating on shares of Teck Resources in a research report on Tuesday, August 15th. Deutsche Bank restated a “buy” rating and set a $26.00 price objective (up from $24.00) on shares of Teck Resources in a research report on Monday, September 25th. Finally, MKM Partners restated a “buy” rating and set a $30.00 price objective on shares of Teck Resources in a research report on Wednesday, September 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and nineteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $30.65.
The company also recently declared a special dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.3141 per share. The ex-dividend date is Thursday, December 14th. This represents a dividend yield of 0.72%. Teck Resources’s dividend payout ratio is 2.42%.
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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.
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