Stephens Inc. AR Takes $480,000 Position in Teck Resources Limited (NYSE:TECK)

Stephens Inc. AR purchased a new stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 9,190 shares of the basic materials company’s stock, valued at approximately $480,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Quent Capital LLC bought a new position in Teck Resources in the 1st quarter worth $119,000. Envestnet Portfolio Solutions Inc. raised its holdings in Teck Resources by 10.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,341 shares of the basic materials company’s stock worth $840,000 after purchasing an additional 1,711 shares during the period. Quantbot Technologies LP raised its holdings in Teck Resources by 180.4% in the 1st quarter. Quantbot Technologies LP now owns 64,243 shares of the basic materials company’s stock worth $2,941,000 after purchasing an additional 41,331 shares during the period. Empowered Funds LLC bought a new position in Teck Resources in the 1st quarter worth $952,000. Finally, SG Americas Securities LLC bought a new position in Teck Resources in the 1st quarter worth $1,641,000. 78.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

TECK has been the topic of a number of recent research reports. UBS Group raised Teck Resources from a “neutral” rating to a “buy” rating and raised their target price for the stock from $76.00 to $78.00 in a report on Wednesday, September 4th. StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. decreased their price target on Teck Resources from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. CIBC raised their price target on Teck Resources from $70.00 to $80.00 and gave the company an “outperformer” rating in a report on Friday, July 12th. Finally, Deutsche Bank Aktiengesellschaft cut Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.29.

Teck Resources Trading Up 0.6 %

Shares of Teck Resources stock opened at $49.09 on Thursday. The firm has a market cap of $24.85 billion, a price-to-earnings ratio of 74.38 and a beta of 1.04. The business has a 50-day moving average price of $48.57 and a 200-day moving average price of $48.71. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. Teck Resources Limited has a twelve month low of $34.38 and a twelve month high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.24. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.09 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The business’s quarterly revenue was down 20.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 earnings per share. Equities research analysts anticipate that Teck Resources Limited will post 1.91 EPS 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.