Verdence Capital Advisors LLC Acquires 1,691 Shares of Teck Resources Limited (NYSE:TECK)

Verdence Capital Advisors LLC boosted its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 20.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,866 shares of the basic materials company’s stock after purchasing an additional 1,691 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Teck Resources were worth $515,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Daymark Wealth Partners LLC boosted its position in shares of Teck Resources by 2.8% during the third quarter. Daymark Wealth Partners LLC now owns 8,774 shares of the basic materials company’s stock worth $458,000 after acquiring an additional 242 shares during the last quarter. Cigna Investments Inc. New boosted its holdings 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 valued at $420,000 after purchasing an additional 317 shares during the last quarter. Candriam S.C.A. grew its position in shares of Teck Resources by 4.0% during the second quarter. Candriam S.C.A. now owns 8,897 shares of the basic materials company’s stock valued at $426,000 after purchasing an additional 343 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in shares of Teck Resources by 7.8% in the second quarter. Evergreen Capital Management LLC now owns 5,064 shares of the basic materials company’s stock worth $243,000 after purchasing an additional 365 shares during the last quarter. Finally, Bruce G. Allen Investments LLC lifted its position in shares of Teck Resources by 77.4% in 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 in the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TECK. Deutsche Bank Aktiengesellschaft downgraded Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research note on Friday, October 25th. JPMorgan Chase & Co. decreased 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. UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday. TD Securities upgraded shares of Teck Resources to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, Scotiabank lifted their price target on Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $65.29.

Teck Resources Trading Down 2.3 %

TECK opened at $47.59 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The stock’s 50 day moving average price is $48.66 and its 200-day moving average price is $48.78. Teck Resources Limited has a one year low of $34.56 and a one year high of $55.13. The stock has a market cap of $24.09 billion, a price-to-earnings ratio of 72.11 and a beta of 1.04.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 EPS 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 for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the prior year, the company posted $0.57 EPS. 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 EPS for the current year.

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.