Exchange Traded Concepts LLC lowered its holdings in Teck Resources Limited (NYSE:TECK – Free Report) (TSE:TECK) by 63.9% during the third quarter, HoldingsChannel.com reports. The fund owned 4,570 shares of the basic materials company’s stock after selling 8,106 shares during the period. Exchange Traded Concepts LLC’s holdings in Teck Resources were worth $239,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Hexagon Capital Partners LLC grew its stake in Teck Resources by 143.0% during 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. Headlands Technologies LLC bought a new stake in Teck Resources during the second quarter worth about $38,000. Bruce G. Allen Investments LLC grew its stake in Teck Resources by 77.4% during the third 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. Blue Trust Inc. grew its stake in Teck Resources by 583.1% during the second quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after buying an additional 898 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in Teck Resources by 69.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after buying an additional 409 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.
Teck Resources Trading Down 0.1 %
Shares of NYSE TECK opened at $50.44 on Monday. The company’s 50 day simple moving average is $48.61 and its 200 day simple moving average is $48.69. Teck Resources Limited has a fifty-two week low of $34.38 and a fifty-two week high of $55.13. The firm has a market capitalization of $25.53 billion, a P/E ratio of 24.73 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 0.77.
Wall Street Analyst Weigh In
TECK has been the topic of several research analyst reports. Scotiabank upped their price objective on shares of Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. upped their price objective on shares of Teck Resources from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. CIBC upped their target price on shares of Teck Resources from $70.00 to $80.00 and gave the stock an “outperformer” rating in a research report on Friday, July 12th. TD Securities upgraded shares of Teck Resources to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, Paradigm Capital upgraded shares of Teck Resources to a “moderate buy” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Teck Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.43.
Check Out Our Latest Analysis on Teck Resources
Teck Resources 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.
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