Park Avenue Securities LLC Has $443,000 Stock Position in Teck Resources Limited (NYSE:TECK)

Park Avenue Securities LLC increased its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 8.7% in the third quarter, Holdings Channel.com reports. The firm owned 8,474 shares of the basic materials company’s stock after acquiring an additional 680 shares during the period. Park Avenue Securities LLC’s holdings in Teck Resources were worth $443,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TECK. First Hawaiian Bank grew its position in shares of Teck Resources by 6.0% during the 1st quarter. First Hawaiian Bank now owns 5,552 shares of the basic materials company’s stock worth $254,000 after buying an additional 313 shares during the period. Cigna Investments Inc. New grew its position in shares of Teck Resources by 3.8% during the 2nd quarter. Cigna Investments Inc. New now owns 8,762 shares of the basic materials company’s stock worth $420,000 after buying an additional 317 shares during the period. Candriam S.C.A. grew its position in shares of Teck Resources by 4.0% during the 2nd quarter. Candriam S.C.A. now owns 8,897 shares of the basic materials company’s stock worth $426,000 after buying an additional 343 shares during the period. Daymark Wealth Partners LLC grew its position in shares of Teck Resources by 4.2% during the 2nd quarter. Daymark Wealth Partners LLC now owns 8,532 shares of the basic materials company’s stock worth $409,000 after buying an additional 347 shares during the period. Finally, Evergreen Capital Management LLC grew its position in shares of Teck Resources by 7.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 5,064 shares of the basic materials company’s stock worth $243,000 after buying an additional 365 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TECK has been the subject of several analyst reports. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research report on Monday, October 7th. UBS Group upgraded Teck Resources from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $76.00 to $78.00 in a research report on Wednesday, September 4th. Citigroup upgraded Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. TD Securities upgraded Teck Resources to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, CIBC boosted their price objective on Teck Resources from $70.00 to $80.00 and gave the company an “outperformer” rating in a research report on Friday, July 12th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Teck Resources currently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Teck Resources Trading Up 1.6 %

NYSE TECK opened at $51.20 on Friday. The stock has a market capitalization of $26.05 billion, a price-to-earnings ratio of 25.10 and a beta of 1.02. The stock’s 50 day moving average price is $48.04 and its two-hundred day moving average price is $48.52. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.48. 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 released its earnings results on Wednesday, July 24th. The basic materials company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.47 by $0.32. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the previous year, the business posted $0.91 EPS. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, analysts anticipate that Teck Resources Limited will post 2 earnings per share for the current fiscal year.

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.