Blue Trust Inc. Boosts Stake in Teck Resources Limited (NYSE:TECK)

Blue Trust Inc. increased its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 178.2% in the third quarter, HoldingsChannel.com reports. The firm owned 2,927 shares of the basic materials company’s stock after buying an additional 1,875 shares during the period. Blue Trust Inc.’s holdings in Teck Resources were worth $140,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Stonegate Investment Group LLC acquired a new stake in Teck Resources during the 3rd quarter worth approximately $232,000. SPC Financial Inc. acquired a new stake in shares of Teck Resources in the 3rd quarter valued at $251,000. Vontobel Holding Ltd. raised its holdings in shares of Teck Resources by 57.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 81,103 shares of the basic materials company’s stock valued at $4,236,000 after purchasing an additional 29,600 shares in the last quarter. Creative Planning raised its holdings in shares of Teck Resources by 14.3% in the 3rd quarter. Creative Planning now owns 43,224 shares of the basic materials company’s stock valued at $2,258,000 after purchasing an additional 5,403 shares in the last quarter. Finally, Affinity Wealth Management LLC raised its holdings in shares of Teck Resources by 0.5% in the 3rd quarter. Affinity Wealth Management LLC now owns 104,781 shares of the basic materials company’s stock valued at $5,474,000 after purchasing an additional 518 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Up 1.2 %

Shares of NYSE:TECK opened at $47.35 on Monday. The company has a market cap of $24.19 billion, a price-to-earnings ratio of 20.95 and a beta of 1.02. The firm’s 50-day simple moving average is $48.73 and its 200-day simple moving average is $48.72. 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 fifty-two week low of $34.38 and a fifty-two week high of $55.13.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TECK shares. Eight Capital lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 11th. TD Securities upgraded shares of Teck Resources to a “strong-buy” rating in a research note on Tuesday, July 16th. Paradigm Capital raised shares of Teck Resources to a “moderate buy” rating in a research report on Friday, July 26th. Benchmark reissued a “buy” rating and set a $55.00 price objective on shares of Teck Resources in a research report on Thursday, July 25th. Finally, Scotiabank raised 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 report on Tuesday, October 8th. Four 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.29.

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.