Teck Resources Limited (NYSE:TECK) Stock Holdings Increased by Cetera Investment Advisers

Cetera Investment Advisers grew its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 3.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,099 shares of the basic materials company’s stock after buying an additional 1,127 shares during the period. Cetera Investment Advisers’ holdings in Teck Resources were worth $1,825,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. First Hawaiian Bank raised its stake in Teck Resources by 6.0% during the first quarter. First Hawaiian Bank now owns 5,552 shares of the basic materials company’s stock worth $254,000 after acquiring an additional 313 shares during the period. Cigna Investments Inc. New lifted its holdings in shares of Teck Resources by 3.8% in the 2nd quarter. Cigna Investments Inc. New now owns 8,762 shares of the basic materials company’s stock worth $420,000 after purchasing an additional 317 shares during the last quarter. Candriam S.C.A. lifted its holdings in shares of Teck Resources by 4.0% in the 2nd quarter. Candriam S.C.A. now owns 8,897 shares of the basic materials company’s stock worth $426,000 after purchasing an additional 343 shares during the last quarter. Daymark Wealth Partners LLC boosted its position in 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 valued at $409,000 after purchasing an additional 347 shares during the period. Finally, Evergreen Capital Management LLC grew its stake in 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 last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. TD Securities raised shares of Teck Resources to a “strong-buy” rating in a report on Tuesday, July 16th. Scotiabank upped their target price 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. Benchmark reaffirmed a “buy” rating and set a $55.00 price target on shares of Teck Resources in a report on Thursday, July 25th. UBS Group upgraded Teck Resources from a “neutral” rating to a “buy” rating and raised their target price for the company from $76.00 to $78.00 in a research report on Wednesday, September 4th. Finally, BMO Capital Markets began coverage on Teck Resources in a research report on Monday, July 15th. They set an “outperform” rating for the company. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Teck Resources Trading Down 0.4 %

Shares of TECK stock opened at $51.00 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The stock has a 50-day simple moving average of $48.18 and a 200 day simple moving average of $48.59. Teck Resources Limited has a fifty-two week low of $34.38 and a fifty-two week high of $55.13. The stock has a market capitalization of $26.05 billion, a P/E ratio of 22.57 and a beta of 1.02.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.32. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The company 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 company posted $0.91 EPS. The business’s revenue was up 10.1% compared to the same quarter last year. On average, sell-side analysts expect that Teck Resources Limited will post 2 earnings per share for the current fiscal 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.