Verdence Capital Advisors LLC Grows Stock Holdings in Teck Resources Limited (NYSE:TECK)

Verdence Capital Advisors LLC lifted its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 20.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,866 shares of the basic materials company’s stock after buying an additional 1,691 shares during the period. Verdence Capital Advisors LLC’s holdings in Teck Resources were worth $515,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Eastern Bank purchased a new position in Teck Resources in the third quarter worth $39,000. Headlands Technologies LLC acquired a new stake in shares of Teck Resources in the 2nd quarter worth $38,000. Bruce G. Allen Investments LLC grew its stake in Teck Resources by 77.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after buying an additional 383 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in Teck Resources by 69.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after buying an additional 409 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Teck Resources by 583.1% in the second quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock valued at $48,000 after buying an additional 898 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Performance

NYSE TECK opened at $47.59 on Tuesday. The firm has a market capitalization of $24.09 billion, a P/E ratio of 72.11 and a beta of 1.04. The stock has a 50-day simple moving average of $48.66 and a two-hundred day simple moving average of $48.78. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. Teck Resources Limited has a fifty-two week low of $34.56 and a fifty-two week high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the business earned $0.57 earnings per share. Teck Resources’s quarterly revenue was down 20.6% on a year-over-year basis. On average, equities analysts forecast that Teck Resources Limited will post 1.91 earnings per share for the current year.

Wall Street Analyst Weigh In

TECK has been the topic of a number of research analyst reports. Benchmark restated a “buy” rating and set a $55.00 price target on shares of Teck Resources in a research note on Thursday, July 25th. JPMorgan Chase & Co. cut their price target on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Scotiabank upped their target price on Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Tuesday, October 8th. Finally, Paradigm Capital upgraded Teck Resources to a “moderate buy” rating in a research note on Friday, July 26th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Teck Resources has a consensus rating of “Moderate Buy” and a consensus target price of $65.29.

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.