Economy

Intact Investment Management Inc. Invests $7.90 Million in Teck Resources Ltd (TECK)

Intact Investment Management Inc. Invests $7.90 Million in Teck Resources Ltd (TECK)”

Teck's B shares slumped 7.3 per cent to $29.29 on the Toronto Stock Exchange. The business's revenue for the quarter was up 62.0% on a year-over-year basis.

"We understand CIC's reasons for monetising a portion of its shareholding and are pleased that CIC intends to remain a significant financial investor in Teck", Teck Chief Executive Officer Don Lindsay said in the statement. The basic materials company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.02. Guardian Capital Advisors Lp sold 43,282 shares as Teck Resources Ltd (TCK)'s stock 0.00%. It has underperformed by 16.70% the S&P500.

New York State Teachers Retirement System decreased its stake in Discover Holding Co Cl A (DFS) by 4.63% based on its latest 2016Q4 regulatory filing with the SEC. The institutional investor held 748,189 shares of the consumer services company at the end of 2016Q4, valued at $53.94 million, down from 784,501 at the end of the previous reported quarter. The company has market cap of $46.17 million. About 17.39M shares traded or 363.73% up from the average. It has underperformed by 6.28% the S&P500. Zacks Investment Research cut shares of Teck Resources from a "hold" rating to a "sell" rating in a report on Tuesday, August 1st. Therefore 47% are positive. Teck Resources has $30 highest and $4 lowest target. Teck Resources had 12 analyst reports since December 5, 2016 according to SRatingsIntel. The company was initiated on Monday, November 7 by Citigroup. The firm earned "Buy" rating on Friday, October 23 by BB&T Capital. Deutsche Bank maintained Teck Resources Ltd (USA) (NYSE:TECK) rating on Monday, October 5. The firm earned "Outperform" rating on Tuesday, October 18 by National Bank Canada. The firm earned "Market Perform" rating on Thursday, April 21 by FBR Capital. Raymond James Financial, Inc. reaffirmed an "outperform" rating on shares of Teck Resources in a report on Tuesday, August 15th. Teck Resources accounts for about 9.7% of Contrarius Investment Management Ltd's portfolio, making the stock its largest holding. Be on Your Buy List?" published on July 26, 2017 as well as Fool.ca's news article titled: "Teck Resources Ltd.: "Is a New Rally Underway?" with publication date: "July 10, 2017. The legal version of this article can be accessed at https://www.dispatchtribunal.com/2017/09/03/intact-investment-management-inc-invests-7-90-million-in-teck-resources-ltd-teck.html. It also upped Imperial Oil Ltd (NYSEMKT:IMO) stake by 11,990 shares and now owns 101,438 shares. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-two have assigned a buy rating to the stock. Therefore 60% are positive. $67.95's average target is 16.27% above currents $58.44 stock price. Steris had 5 analyst reports since November 2, 2015 according to SRatingsIntel. The rating was upgraded by Berenberg on Wednesday, March 22 to "Buy". The rating was maintained by Roth Capital with "Buy" on Friday, August 11. TheStreet maintained the shares of TCK in report on Friday, October 16 with "Hold" rating. The stock has "Outperform" rating by Credit Suisse on Wednesday, April 19. JP Morgan has "Neutral" rating and $8 target.

Investors sentiment increased to 1 in 2016 Q4. Its down 0.04, from 0.99 in 2016Q3. 2 funds opened positions while 2 raised stakes. Fmr Limited Liability reported 9.49M shares. Mackenzie Finance reported 69,039 shares. Marshall Wace Limited Liability Partnership holds 948,972 shares. Hanson & Doremus Invest holds 0% or 1,670 shares in its portfolio. Eam Limited Liability Com invested in 0.4% or 122,887 shares. Capstone Asset Mgmt owns 146,251 shares. Univest Of Pennsylvania, a Pennsylvania-based fund reported 55,969 shares. Hussman Strategic Advsrs Inc holds 150,000 shares or 0.73% of its portfolio.



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