Mount Yale Investment Advisors LLC Increases Holdings in Teck Resources Limited (NYSE:TECK)

Mount Yale Investment Advisors LLC lifted its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 64.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,946 shares of the basic materials company’s stock after buying an additional 4,289 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Teck Resources were worth $572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. 180 Wealth Advisors LLC purchased a new position in Teck Resources in the first quarter worth about $223,000. Hexagon Capital Partners LLC boosted its holdings in shares of Teck Resources by 143.0% in the first quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock worth $30,000 after buying an additional 386 shares during the last quarter. Quattro Financial Advisors LLC bought a new stake in Teck Resources during the first quarter valued at approximately $927,000. Tradewinds Capital Management LLC purchased a new stake in Teck Resources during the first quarter valued at approximately $114,000. Finally, Maryland State Retirement & Pension System raised its position in Teck Resources by 1.8% in the first quarter. Maryland State Retirement & Pension System now owns 48,111 shares of the basic materials company’s stock worth $2,267,000 after acquiring an additional 864 shares during the period. Institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Scotiabank upped their price objective on Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, October 8th. Paradigm Capital upgraded Teck Resources to a “moderate buy” rating in a research report on Friday, July 26th. BMO Capital Markets initiated coverage on Teck Resources in a research report on Monday, July 15th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. reduced their target price on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Friday. Finally, StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Teck Resources has a consensus rating of “Moderate Buy” and a consensus price target of $65.29.

Teck Resources Stock Up 1.2 %

Shares of TECK stock opened at $47.35 on Friday. The stock has a market cap of $24.19 billion, a P/E ratio of 20.95 and a beta of 1.02. The company’s fifty day simple moving average is $48.73 and its two-hundred day simple moving average is $48.73. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. Teck Resources Limited has a 52 week low of $34.38 and a 52 week high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.32. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the prior year, the company earned $0.91 EPS. The business’s revenue was up 10.1% compared to the same quarter last year. Analysts predict that Teck Resources Limited will post 1.93 EPS for the current fiscal year.

Teck Resources Company Profile

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.